EU's 2007 enlargement by Bulgaria and Romania is evaluated by applying a simple macroeconomic integration model able to encompass as many of the theoretically predicted integration effects possible. The direct integration effects of Bulgaria and Romania spill-over to EU15, including Austria and...

The global financial and economic crisis in 2008-09 followed by a "Euro crisis" - not a crisis of the Euro but a sovereign debt (and/or banking) crisis in some Euro countries - forced to reforms of the asymmetric policy design of the Economic and Monetary Union (EMU). Starting with ad-hoc rescue...