There is evidence that a budget consolidation strategy can work with only a small and shortlived negative impact on growth. However, many countries are currently trying to consolidate at the same time as firms and consumers are deleveraging. We develop ten guidelines for consolidation during...

The financial crisis has affected the real economy in stages yet nevertheless at an unexpected rate and with all regions being affected simultaneously. It advanced almost independently of the regions' exposure to the actual initial causes, among them the subprime crisis, innovative financial...

The Delors Committee's three stage plan for attaining European Economic and Monetary Union has met with heavy criticism and has given rise to various counter-proposals. The following article examines the relative merits and shortcomings of the Delors Plan and the alternative concepts presented...

The Third Lomé Trade and Co-operation Convention between the European Community and the African, Caribbean and Pacific (ACP) countries was signed on 8th December 1984. It is valid for the period from 1.3. 1985 to 28.2. 1990 and incorporates an extension of SYSMIN, the special financing facility...