The process of EU integration has intensified in the 1980s and early 1990s. The desire of a number of central and eastern European countries to join the EU is often seen as a threat to the continuation of this process. How wide should the radius of EU enlargement be? Which forms of integration...

The 1980s have witnessed the globalization of markets and an intensified international competition. The rise of the newly industrializing countries and the growth of multinational enterprises—developing parallely to foreign direct investments—have contributed considerably to this trend....

The merger of the two German states brings together countries with divergent economic systems, different trade orientations and a rift in terms of wealth. Transforming the East German system into a social market economy raises enormous internal and external adjustment problems in a period in...

The events in August in the Soviet Union demonstrated drastically the difficulties faced by the countries of Eastern Europe in the transition to a market-based system. The following article analyzes the specific distoritions in their economies which this process involves. The author argues in...

When German unification took place in 1990, the government was optimistic that the process of closing the economic gap between the two Germanies would be a brief one. However, economic unification has turned out to be more costly and much more complex than anticipated. But on the other hand it...

The following analysis of the 1992/93 crisis of the European Monetary System finds that the unfolding of the single market dynamics will make European Monetary Union a difficult stage to achieve. Further monetary integration is only feasible if full employment and sustained growth are achieved...

Prior to the Brexit referendum, the UK government sent an information brochure to households across the country. Surprisingly, key findings of a study by the UK Treasury – including an expected per capita income loss of £1800 – were not included in the brochure. Calculations indicate that...

Brexit is not only a historical chapter of the British - EU relationship, but it also carries immense challenges for fi nancial market stability in the short and medium run for the 28 member states of the European Union. The scale of these challenges depends heavily on the outcome of EU-UK...