This paper analyses the euro as external anchor in the Western Balkans and their process of fiscal consolidation in the context of future EU accession.

Study on the adjustment capacity to shocks of EU candidate and potential candidate countries of the Western Balkans, with a focus on labour markets, and background studies on several countries of the region. The main question addressed in this study is the performance of the labour markets in...

Since the short reunification boom, the German economy registered very low growth rates which are substantially below those of other EU countries. This paper analyses the underlying reasons for this under-performance. The fiscal burden of unification, the decline of the construction sector and a...

This paper reviews the economic debate surrounding both the opportunities and the challenges arising from European monetary union. It is organised in two parts. Part I examines the economic environment in EMU, analysing the role of markets and the macro-economic framework. It finds that the...