Western European Economies
Full economic convergence between member states of the European Community, until recent political events in Eastern Europe, was a goal which seemed a long way off. Certain member states, not least the UK, have been less enthusiastic than others about throwing their economic lot in with the rest of the Community, at least in the short term. But the unexpected collapse of the rigid Communist system in Eastern Europe may do more to encourage member states to pursue a cohesive economic policy in the Community than any of the political initiatives taken in Europe since World War II, including the Single Market initiative.
KeywordsGross Domestic Product Foreign Trade Gross Domestic Product Growth Trade Deficit Current Account Deficit
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