The storm breaks over Europe

Article Abstract:

Many of the European Community's (EC) largest companies are feeling the after-effects of poorly timed expansion in the late 1980s. The recessionary climate that has prevailed over much of the EC since 1990 has led to a severe crisis in several of Europe's biggest industries, with many corporate heavyweights facing falling demand, overcapacity and steep declines in profits. This dire situation has been aggravated by the financial fallout emanating from the wave of poorly planned corporate takeovers that characterized European business in the late 1980s. The business sectors that have been greatly affected by this downswing in the business cycle include textiles, motors, aerospace, and transportation. Among the major business sectors, only the food and utilities sectors have remained relatively unscathed by the economic downturn in the EC countries.

Economic aspects, Recessions

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Giants gather at the gate

Article Abstract:

The largest companies of the European Free Trade Area (EFTA) countries should have little difficulty in maintaining their competitiveness with the largest European Community (EC) companies when the EFTA is eventually merged with the EC sometime in the none-too-distant future. One key reason for this is that the largest of the EFTA companies have emerged as European leaders in their respective business sectors and are thus able to compete favorably with the EC's largest companies. Some EFTA companies that are expected to challenge the dominance of EC companies in Europe are Nestle, Volvo and Norsk Hydro.

European Free Trade Association

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