Survival of the biggest

Article Abstract:

The trade balance of European telecommunications firms has eroded from an annual surplus of 1.5 billion European Currency Units (ECUs) in 1985 to less than 100 million ECUs in 1988 as the industry has faced heightened competition from Japan. In order to compete with the Japanese and US telecommunications industries, the European telecom industry must go through a wave of mergers and acquisitions in order to reach critical mass. Telecommunication firms need an eight percent share of the world market in order to be globally competitive, but no one European Community market represents more than six percent. Public telephone and telegraph companies in Europe are beginning to look beyond their national boundaries in light of the imminent single European market of 1992, and are promoting collaboration. Large manufacturers like France's Alcatel NV already rely on selling overseas. Besides Alcatel, other European telecommunications firms expected to prosper include AT&T/Italtel (US/Italy), Ericsson (Sweden), and Siemens (Germany).

Italy, Europe, Germany, Telecommunications services industry, Telecommunications industry, France, Sweden, Siemens AG, American Telephone and Telegraph Co., Italtel S.p.A., Alcatel N.V., LM Ericsson Osakeyhtiot AB

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Car-nage

Article Abstract:

Many European automobile manufacturers are nervous because, even though the volume producers, Volkswagen, Fiat, Renault, Peugeot, and the European divisions of General Motors and Ford, hold more than 75% of the market, the imminent single market of 1992 is predicted to bring a concerted effort by the Japanese to increase their market share. Spain, France, and Italy do not advocate a completely free market because they feel their domestic automobile industries will not be able to compete effectively. European Community Internal Market Commissioner Martin Bangemann, with support from the UK and West Germany, advocates an unprotected, open market as the best way to promote an efficient restructuring of the European automobile manufacturing industry.

Japan, Automobile industry, Free trade, Foreign business enterprises, European Community, Bangemann, Martin

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EFTA reaches its Rubicon

Article Abstract:

Business leaders in the member countries of the European Free Trade Assoc (EFTA) have begun to confront the question of how to participate in the economic benefits of the single European market of 1992 without losing their autonomy. The EFTA leadership is seeking to gain an institutional voice in and greater commercial access to the single European market through the establishment of a 19-member European Economic Space. However, closer political ties to the European Community (EC) and better access to the single European market will require the EFTA to relinquish its own restrictions on EC access to national markets, and cede some of its sovereignty.

Membership, European Union, European Free Trade Association

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