The unification of the two German states within a relatively short period of time now appears inevitable. Yet there is no historical precedent for a successful transformation from a socialist to a market economy. Doubts have been voiced by some as to whether such a transformation is possible....

The XXVIIth Congress of the CPSU marked the beginning of a new phase in Soviet economic policy which is to last to the year 2000. The Congress laid down the objectives for this phase and the means by which the objectives are to be achieved. Our article examines the question whether, or to what...

The current system for the financing of the EU needs to be reformed. This paper puts forth a reform proposal with two important elements: first, the addition of an EU VAT share on receipts; and second, a shift in power from the European Council to the European Parliament with regard to the...

The further development of the European Community that has been decided at the Maastricht summit will be impossible to realize without a significant increase in the EC budget and an adjustment to the financing system. What will be the additional financing requirement? How could the Community's...

There are at least two reasons why sustainability of public debt is an issue of increasing importance. First, public choice considerations show the danger of excessive use of deficit finance in a democracy. Second, the conditions of a European Monetary Union imply further incentives for deficit...