What European Monetary Union will cost companies

Article Abstract:

Corporations, financial institutions, governments, and the European Commission must all plan for the European Monetary Union (EMU), which will become operational in 1997, or possibly in 2000. The EMU will replace national currencies and national monetary policies with a single currency and an independent central bank. The EMU will result in some problems for companies, in that the majority of contracts will have to be renegotiated and redenominated in European currency units, and corporate profits will be reduced. The primary advantage of the EMU for firms will be the decline in foreign exchange transaction and hedging costs. The main issues that corporations must consider include the degree of independence of the European System of Central Banks, and the regulation of fiscal policies.

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The future of competition policy in the EC

Article Abstract:

The European Community's economic policies regarding competition are meant to foster an integrated single European market by: promoting efficiency; providing a series of checks and balances to ensure fair play; and alleviating Europe of the phenomenon of protectionism fostered by subsidies and regulation. The European Commission means to gradually phase-in competition, attacking protectionism and restraint of free trade by: restricting national subsidies; harmonizing regulatory standards; and developing centralized merger control authorities.

Competition (Economics), Laws, regulations and rules, International business enterprises, Multinational corporations, European Community

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Routes forward for European monetary union

Article Abstract:

The member states of the European Community (EC) have agreed to establish a a single currency-based European Monetary Union (EMU). No start-up date has been set for the EMU, but the single currency on which it shall be based is expected to be introduced before Jan 1999. The EMU promises to bring several significant benefits to an economically integrated Europe. These would include the rationalization of financial markets, the reduction of business transaction costs, and supply-side gains through increased competition.

International affairs, Research, Monetary unions

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