Most of the newly acceded central and east European EU countries are among the main beneficiaries of EU Cohesion Policy. The main objective of this policy is to improve the long-term growth and employment prospects of the supported regions, and thereby to support convergence towards higher...

The Federal Republic of Germany is presently experiencing the deepest and longest recession in its history. The situation is characterised by high and rising unemployment figures, slowing growth, a steep increase in the number of bankruptcies in the business sector as well as by a rapidly rising...