Inside The New Europe
From "Nippophobia" to Fortress Europe to the Single Market: the European Community's progress over the last decade has been little short of stunning. Krause, a reporter and editor for The International Herald Tribune, combines a focus on the underlying economics that drive the process with easy-to-read prose, enriched by anecdotes about how the change has affected Europeans in the street. His book frames the challenges that lie ahead-widening to include new members in western Europe and stretching eastward. Its last chapter, visions of the year 2000 by four European leaders, is inadvertent testimony to the looming question for the United States: none of the visions, save that of Margaret Thatcher, has much of a role for America.
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As part of this effort, conversations have been started in Brussels, on the initiative of the Spanish Government, in order to study the problems faced by the Spanish economy as a result of the operation of the Common Market. On February 9 last, the E.E.C. authorities presented a questionnaire to the Spanish Government asking specifically about important aspects of the relations between the Six and Spain which had been studied in a Spanish report of December 9, 1964. The Spanish Government's answer to the questionnaire was handed to the E.E.C. in June.
War-ravaged Bosnia has come a long way since the 1995 Dayton Accord. But Bosnia's stability rests on the West's large-scale involvement. Integration remains an unfulfilled hope. When foreign aid tapers off, as it soon will, Bosnia's economy will grind to a halt without major reforms. The world should safeguard Dayton's biggest success -- ending Europe's bloodiest war since World War II -- but hand Bosnia's political and economic future back to Bosnians.
Peace in the Balkans depends on economic stability and prosperity for all. To overcome the legacies of failed economic reforms and ethnic strife, southeastern Europe needs nothing short of a European "New Deal." Sound money and free trade can take root in the Balkans only if the EU expands the euro and its trade arrangements to the region promptly, with no strings attached. But the EU's current approach, which attaches conditions to membership in its elite clubs, falls far short.

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