Abstracts » Retail industry

One size cannot fit all in the new euro-zone

Article Abstract:

Apparently similar economies can in fact be very different from each other. For this reason, it will prove very difficult to develop economic policies for all the countries participating in European economic and monetary union. A single monetary policy will have to take account of the needs of countries which are at different stages of the economic cycle and have different balances between manufacturing and services. Manufacturing-dependent countries are different from service-dependent ones, and there are also significant differences between service-dependent countries.

Column, European Union

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Nations take huge leap into unknown

Article Abstract:

The single European currency, which becomes a legal entity on Jan 1, 1999, is set to rapidly replace national currencies in participating countries. European monetary union is an extremely significant development, and it is impossible to accurately predict its impact. However, it is clear that national parliaments will find it harder to exert their own authority, while the European Central Bank will have considerable power. Creating a single currency will certainly prove a driving force for European economic integration.

Europe, Economic policy

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