Critical issue: the single currency

Article Abstract:

European economic and monetary union (EMU) started from Jan 1 1999 and there were 11 countries involved in the project of a total European Union (EU) membership of 15 countries. There are three key benefits for businesses, which pay less for managing cash, face less currency risk, and can compete in larger markets. Price stability has arisen from fiscal disciple as part of the wider benefits. There are still risks such as concern that a common monetary policy may be difficult to achieve with varying national conditions.

International Affairs, European Community, Western Europe, Monetary unions

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BEST for business

Article Abstract:

The EU has made determined attempts to back small and medium-sized enterprises (SMEs), because one of the four 'pillars' of the 1998 employment guidelines is entrepreneurship development. The Joint European Ventures (JEV) fund will also assist SMEs to establish trans-national joint ventures. A Business Environment Simplification Task force (BEST) aims to remove unnecessary legislative and administrative barriers which have adversely affected the development of SMEs.

Small Business, Economic aspects

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Trade policy

Article Abstract:

The EU's export-import trade with the rest of the world amounted to $1.58 trillion in 1997. Its trade is ruled by various association agreements, such as the European Free Trade Association. Trade policy instruments include the common external tariff, the anti-dumping regime and the general system of preferences. The World Trade Organisation aims to implement and administer new world trading rules, and to settle member trade disputes.

Exports of Goods & Services, Imports of Goods & Services, Trade policy, Commercial policy

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