exchange rate as an adjustment instrument. This is an even more basic challenge for the EU because the enlargement challenge … common currency. This contribution deals with these two basic challenges for the EU over the next decade. It starts with a …

country in the EU. This is due to deeply-rooted structural differences in legal systems, development of markets and …-based forms of financing of investments by enterprises in the EU. Disintermediation, and institutionalisation of savings in … authorities would have reacted to something like the LTCM collapse in the EU is a good way to see the importance of these two …

most tightly correlated with the recession and recovery across EU member states. …