Suchergebnisse

Prospective member states of the European Union (EU) need to achieve a free market economy. This article provides a review of the thorough & fairly quick conversion of the economies of the New Member States (NMS). Between 1990-94, however, the Gross Domestic Product (GDP) of the NMS decreased dramatically. Afterwards, the situation improved, mainly due to EU policies to facilitate the accession process. This process was based on 3 principles: establishment of a free trade zone between the EU & each of the NMS, acceptance of & compliance with the EU Acquis Communautaire, & financial & administrative aid to NMS. Furthermore, the article describes the economic, monetary, & budgetary implications of joining the EU. Finally, the article describes the socioeconomic situation in the NMS before the actual accession. 6 Tables, 19 References. A. Michaux