After ratification by member countries, the "Luxembourg reform package" worked out by the European Council at the end of 1985 is to provide the basis for the development of the European Community into the nineties. What are the challenges facing the EC? What opportunities do the Luxembourg...

The European Monetary System has remained relatively stable in the eight years of its existence. The following article analyses the factors that have contributed to this stability and assesses the prospects for the system in the years to come.

The first step towards reform of the EC was taken when the Single European Act came into force in July of this year. What concrete decisions must the member states now take? What are their chances of being implemented?