Show Less

Structural Challenges for Europe

Edited by Gertrude Tumpel-Gugerell and Peter Mooslechner

The main thrust of the book is that the sharing of mutual experiences is important for generating an acceptable policy mix, both at EU and national levels. The contributors highlight key financial issues, including the role of FDI and of foreign banks in the still ‘under-banked’ acceding countries, the re-launch of social security systems and the fiscal challenges of financing the catch-up process. They also examine the ongoing EU debate surrounding the application of the Stability and Growth Pact in Central and Eastern European Countries (CEECs) and go on to explore the contrasting evidence that some CEECs have shown more extensive privatisation efforts than some EU countries.
Buy Book in Print
Show Summary Details
You do not have access to this content

Chapter 8: The financial aspects of enlargement: some remarks

Michaele Schreyer


8. The financial aspects of enlargement: some remarks Michaele Schreyer The EU is now on the eve of enlargement. In October 2002 the heads of state and government of the member states confirmed at the European Council Meeting in Brussels that the candidate countries Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, the Slovak Republic and Slovenia can join the European Union in 2004. They confirmed that these states meet the political and economic criteria for joining and that they will be able to take over all obligations linked to membership by 2004. For Bulgaria and Romania progress was welcomed and the European Council confirmed that the Union would support the countries in their efforts to reach their target date of 2007 for accession. The summit also underlined the progress of reforms in Turkey. Now the final negotiations have started – those on the financial aspects of enlargement – and these relate to: ● ● ● how much funding the EU will offer to the new members what they have to contribute, and what the cost will be for the EU-15. Before I go further, let me reflect a little on what exactly is meant by ‘costs of enlargement’. In the public debate this notion of ‘costs’ is often nebulous: very often, the forthcoming enlargement is associated with large, quasi-automatic and unpredictable money flows from the old to the new member states, from rich to poor regions. When recently Europeans in all of the present member states...

You are not authenticated to view the full text of this chapter or article.

Elgaronline requires a subscription or purchase to access the full text of books or journals. Please login through your library system or with your personal username and password on the homepage.

Non-subscribers can freely search the site, view abstracts/ extracts and download selected front matter and introductory chapters for personal use.

Your library may not have purchased all subject areas. If you are authenticated and think you should have access to this title, please contact your librarian.

Further information

or login to access all content.