Two-speed Common Market heading for heavy strains

Article Abstract:

The European Economic Community (EEC) will welcome Spain and Portugal into the organization, and European economic analysts have been busy projecting the implications of their entry on competitive markets on the continent. Perhaps of greater significance is the ramifications of the trend toward less-developed nations entering the EEC, with Spain and Portugal joining the other most recent member, Greece, as the three tortoises among the hares. The cost of EEC membership for Spain's and Portugal's economic environment will be high as new and cheaper products flood their domestic markets from other European manufacturers. The process of integration into the EEC and the expected effects on the Common Market as a result of their joining are described.

Analysis, Europe, Political aspects, International economic relations, European Economic Community

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The Arabs sweep back into Spain

Article Abstract:

The Kuwait Investment Office (KIO) has increased its investment activity in Spain, committing $2.25 billion in investment funds in 1988. KIO has created a successful, hostile takeover of Ebro, Spain's biggest producer of sugar, and started a campaign to take over a major supplier of chemicals. KIO's ultimate goal is appreciation of capital. Its most important investment in Spain has been its 47.5% share of Torras Hostench, a large paper producer. KIO has also had an influence in recent bank take-over activities, and will continue to influence and change the Spanish business community, possibly extending the influence to other countries as Spain becomes a stronger force in the European Community.

Mergers, acquisitions and divestments, Investments, Corporations, Kuwait, Corporations, Spanish, Kuwait. Investment Office, Ebro Compania de Azucares y Alcoholes S.A., Torras-Hostench S.A.

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Europe's new frontier

Article Abstract:

Industry and government in Portugal have been struggling to catch up with other European Community (EC) members and prepare for the advent of the single European market of 1992. Portugal suffers from an unskilled and poorly educated work force, a rigid government bureaucracy, and a weak infrastructure, but offers the lowest industrial labor cost per worker in the EC, government incentives, and a pleasant climate. The winners in Portugal's economic revival will include foreign investors, tourism, real estate, and export companies, while the losers will likely be shoes and textile firms, and agriculture.

Single European market

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