Bankers tackle cost of sending

Article Abstract:

Making small cross-country transactions within the EC costs more and takes longer than making large transactions. Whereas withdrawals are facilitated by cash machines, payments of less than 2,500 European Currency Unit (ECU) may take several days in processing and costs between ECU7-40. On the other hand, large transactions processed through the Society for Worldwide Inter-Bank Financial Telecommunications network go for very much less time and cost. The increase in the number of such small transactions has prompted the European Commisssion to pressure the banking community to provide better inter-border services. Improvement of facilities and fee structures and the grouping together of some banks to serve customers in each other's countries are some of the measures taken. In this regard, multinational banks and credit card firms have the advantage.

Commercial banks, not elsewhere classified, Banking industry, Evaluation, Financial services industry, Financial services, International aspects, Online transaction processing

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The end of the Gulf war should refocus western minds on putting the east European economies on their feet

Article Abstract:

The western industrialized countries should focus on integrating Eastern Europe into the world economy now that the Persian Gulf War is over. The economic conditions of eastern Germany are much worse than had been forecasted, and half of the work force of the country may be unemployed by the end of 1991. The lack of progress in eastern Germany and Eastern Europe is due to a lack of western investment. Western investors view eastern German and Eastern European companies as uncompetitive. Investors are not keen to take advantage of the low cost labor pool of eastern Germany because they believe that wages will quickly rise to west German standards. An antiquated infrastructure, unresolved property ownership issues, and industrial pollution are also discouraging western investment.

Foreign investments, Germany, Europe, Eastern

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Shape of things to come: Europe's evolving culture small economies will still throw up world class competition

Article Abstract:

The economic development of European Community (EC) member countries is affected by geography. The EC has a golden triangle consisting of south-east England, Northern France, the Benelux countries, and southern Germany that is extremely prosperous. The economy of Portugal, which along with Greece, is the poorest EC nation, will benefit from the proximity of the booming Spanish economy. Greece is too geographically isolated to benefit from regional development. The integration of Eastern Europe into a pan-European economy will lead to greater industrial specialization on regional lines, and likely will strengthen Germany's influence in Europe.

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