EMU, Switzerland? Marie-Christine Luijckx and Luke Threinen Public Policy 542 April 10, 2006

Size: px
Start display at page:

Download "EMU, Switzerland? Marie-Christine Luijckx and Luke Threinen Public Policy 542 April 10, 2006"

Transcription

1 EMU, Switzerland? Marie-Christine Luijckx and Luke Threinen Public Policy 542 April 10, 2006

2 Introduction While Switzerland is the EU s closest geographic, cultural, and economic ally, it is not a member state. Since applying for membership in 1992 led to two negative referenda in the country, the idea of joining has been put on hold indefinitely. However, by all economic measures it seems that Switzerland now more than ever should be ready to reconsider its stance on participation in the European Monetary Union (EMU). As trade has liberalized and the work force has become more mobile, the benefits to integration have increased. In addition, as the movements of the Swiss economy have begun to mirror those of the Euro area, the costs of joining have also decreased. This paper will analyze the economic costs and benefits of Switzerland joining the EMU. In particular, it will look at how Switzerland stands relative to the four criteria for currency integration: regional interdependency, industrial diversification, factor mobility, and symmetric shocks. It will end with a policy recommendation on whether Switzerland should peg based on its performance on each of these criteria. Switzerland vs. EMU Switzerland is historically a neutral and independent country with stable growth, low unemployment, and a highly skilled labor force. While the country is small, the national currency, the Swiss Franc (SFr), is strong and liquid due mainly to the size of the banking sector. As the currency freely floats, Swiss policymakers have full access to monetary and fiscal policy to stabilize the economy. In contrast, the countries of the EMU have forsaken independent monetary policy to use the Euro as their currency. There are currently 12 countries in the EMU: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, and Spain. In addition, there is a handful of EU and non-eu countries that peg their respective currencies to the Euro 1. As Switzerland is a stable and prosperous country, it would potentially be a good candidate to join the ranks of the EMU, but for years it has been resistant to give up any of its autonomy. As a consequence, it has also missed out on the opportunity to join the unified market and enjoy the subsequent monetary efficiency gains. Regional Interdependency One of the most important factors in deciding whether a country should join a currency union is how well integrated the economy of that country is with the area it would join. The more integrated they are, the more magnified are the monetary efficiency gains. The best way to measure this is to look at trade flows between Switzerland and the Euro zone. While Switzerland remains outside the EU, there are no substantial barriers to trade between the two. The Swiss government has negotiated a number of bilateral agreements to ensure open access to European markets. Switzerland s economy is dependent on these economic ties as the 1 Wikipedia: Eurozone See

3 EU is its most important partner. The strong relationship between Switzerland and the EU dates back to 1972 when the Free Trade Agreement was signed allowing for free trade of industrial products. In 1999, seven more bilateral agreements were signed, which included measures to free the movement of persons and lower other technical barriers to trade. More recently, in 2004, a second set of bilateral agreements addressed agricultural products and other controversial issues 2. As a small country, Switzerland is very dependent on trade. The trade to GDP ratio from 2002 to 2004 was as high as 88.2% with an incredible trade per capita of 38,205 US$. Switzerland is the 21 st biggest merchandise exporter and 18 th largest merchandise importer in the world 3. Switzerland s biggest exports are machinery, chemicals, metals, watches, and agricultural products. In terms of imports, Switzerland is a net importer of food and has to buy almost all of its energy and industrial raw materials abroad. It is no surprise that the majority of Switzerland s trade is with its geographical neighbor, the EU- 25. In fact, 62.1% of its exports are destined for the EU-25 and 82.8% of its imports originate there 4. Within the EU, Germany, France, and Italy are Switzerland s largest trading partners accounting for 32.9, 11.7, and 10.2 percent of imports respectively (see Figure 1). Though not part of the EMU, Switzerland is already strongly regionally dependent on European trade for the health of its economy. This reflects the general trend in Europe towards intraregional trade over inter-regional trade 5. Even for the much larger EU, Switzerland is the second biggest trading partner after the United States. In addition, as Switzerland has moved its domestic regulations in line with that of the EU, it has lowered the potential future costs of adopting the Euro. Industrial Diversification In an optimum currency area, industrial diversification is important to buffer shocks. In a developed and prosperous country like Switzerland, the economy is already fairly well diversified. In addition to the insurance companies and banks it is well known for, Switzerland has a comparative advantage in customized engineering products. These products include precision instruments and watches, pharmaceutical goods, and vehicles and other machines 6. Thus, with a variety of high value-added products and a strong banking sector Switzerland is able to protect its economy from sector-specific shocks. Joining the EMU would only help to further diversify Switzerland s industry and portfolio, but it is not among the largest benefits it would receive. Symmetry of Economic Shocks In assessing possible monetary union with the Euro area, another consideration for the Swiss is whether their economy tends to face shocks which are similar in quality, magnitude, and timing to the Euro area s economy. If the Swiss economy faces shocks which tend to be different in some important way from the shocks faced by the Euro area, the costs to Switzerland of surrendering monetary autonomy would increase greatly. This is because the monetary policy called for by the 2 Bilateral Agreements I & II See 3 WTO Statistics Database: Country Profile Switzerland 4 Ibid 5 WTO Statistics Database: Intra- and Inter- Regional Merchandise Trade, Economist Intelligence Unit: Country Profile Switzerland

4 shock facing the Swiss might differ greatly from the policy called for by conditions in the Euro area. This could even result in the Swiss facing, say, a monetary contraction just when conditions in Switzerland call for a monetary expansion, and an exacerbation of the Swiss problems. It is difficult to determine, let alone quantify, the shocks that an economy faces at any given time. However, some useful proxies are available which shed a great deal of light on the Swiss-Euro Zone comparison. The most obvious and broadest indicator of economic shocks is a change in Gross Domestic Product. In comparing the percent change in Switzerland s GDP growth to GDP growth changes in the Euro area from 1995 to the present, a high degree of symmetry is apparent. In fact, from 1996 to 2006, the changes in Swiss GDP growth moved in the same direction as changes in Euro area GDP growth every year (see Figure 2). Note that this is not to say that when the Euro area GDP grew, so did the Swiss GDP rather, it shows that changes to the rate of growth were in the same direction. For instance, in 2001, Euro area GDP growth fell from +3.70% to +1.80%, while Swiss GDP growth fell from +3.61% to +1.05%, with both economies continuing to grow, but at a slower rate. Another helpful proxy for economic shocks is the unemployment rate over time. Specifically, we would expect a negative economic shock to increase the unemployment rate, with all else held equal. While all else is not be held equal in reality, a look at the unemployment rates in Switzerland and the Euro zone from 1995 to 2005 is instructive. As with changes in GDP growth, we see the unemployment rates moving virtually in parallel over this period (see Figure 3), although the Swiss unemployment rate stays about 6 to 8 percentage points below that of the Euro area. As noted, unemployment is not a perfect indicator of symmetric shocks because other factors are changing at the same time. One of the factors which might force unemployment rates to move in parallel even under asymmetric shocks is monetary policy. For example, if the Swiss economy faced a negative external shock which, if left alone, would raise the unemployment level, the Swiss National Bank (SNB) may be able to avert the unemployment rise by expanding the money supply and thereby lowering interest rates. However, if the Euro area was not subject to the same shock, the European Central Bank (ECB) would be unlikely to follow the same monetary policy as the SNB. It is therefore useful to examine movements in the Swiss interest rate compared with those of the Euro area to see whether, in fact, the SNB s monetary policy has strayed far from the ECB s. Figure 4 suggests that this was not the case for the period 1995 to Using changes in the money market interest rate as a proxy for changes in the national interest rate, we see again that the SNB quite obviously followed the ECB s lead over this period. This in turn suggests either that the two banks were responding to similar conditions or that one of them followed the other s monetary policy for some other reason (of course the SNB would have followed the ECB, not the other way around). For instance, the interest rate changes in the two areas would be correlated if the SNB was implementing a de facto peg of the SFr to the Euro. In actuality, the truth may be that the SNB was not forced to choose. If the SNB s policy was to peg the SFr to the Euro while simultaneously responding to asymmetric shocks to the Swiss economy, one would expect to see some kind of divergence between the macro indicators of the two areas or some slippage in the exchange rate. For instance, if the SNB anticipated an upturn in the economy which would not be felt in the Euro area and wanted to raise interest rates, it would have to intervene in the foreign exchange market to keep the SFr from appreciating. This could show up as a divergence of Swiss-Euro area interest rates. Similarly, if the SNB kept the interest

5 rates and exchange rates on par while the Swiss economy turned up, we might expect to see GDP, unemployment, or inflation figures diverge. We have seen that GDP and unemployment have moved together; Figure 5 shows that moves in consumer prices also match closely from 1995 to 2005 across Switzerland and the EMU. Finally, Figure 6 shows moves in the Euro:US$ and SFR:US$ exchange rates from 1995 to Once again, the Swiss and Euro area figures move in lockstep. Figure 7 shows the calculated Euro:SFr exchange rate implied using the data from Figure 6 in the past ten years, the exchange rate has moved between the band of 0.61 and 0.68 Euro:SFr, with the rates since the official adoption of the Euro occupying an even narrower band. It is difficult to see this as a coincidence, especially in light of the degree to which Switzerland s economy relies on streams of imports and exports. Factor Mobility Even for countries whose macroeconomies tend to face similar conditions, there will be times when the shocks they experience diverge. In this case, participation in the currency union is less costly when there is high geographic factor mobility across the union, particularly for labor. Switzerland and the Euro area exhibit a relatively high degree of labor mobility. Inasmuch as they were, legal barriers are no longer an obstacle in Switzerland to EU migration. Since 2002, all Swiss citizens have been eligible to live and work in any EU country. 7 Additionally, Swiss voters accepted a proposal last summer to join the passport-free Schengen travel zone. 8 This allows free travel between all member countries, which include some of the largest Euro zone countries, such as Germany, France, Italy, as well as some of the other Euro zone countries which have strong Swiss economic ties, such as Austria, Spain, and the Netherlands. Another commonly mentioned barrier to labor mobility in Europe is language. This does not apply in the same way to Switzerland, however, which lacks a unique language. Instead, Switzerland has three official languages German, French, and Italian 9 each of which originates in a country bordering Switzerland. Indeed, these three bordering countries, all Euro zone members, are Switzerland s three largest European trading partners. 10 Additionally, Germans and Italians compose two of the top four populations of foreign nationals living in Switzerland. (The largest group, former Yugoslavian nationals, is also the newest.) In all, Switzerland hosts a wide variety of foreign-born permanent residents and temporary workers from around the Euro zone. Over half of Switzerland s 1.5 million foreign residents in 2000 were from Europe, 11 making up over 10% of the population. Policy Recommendation 7 Free movement of persons Switzerland-EU15, Swiss Federal Office for Migration 8 One country says yes, The Economist, June 9, CIA, Switzerland, The World Factbook, Switzerland, Country Profile, EIU, Switzerland Faces Common European Challenges, Country Profiles, February, See

6 Switzerland and the Euro zone meet each of the criteria for economic success of a currency union presented above. Factor mobility is high between Switzerland and the EMU, particularly in the critical area of labor. Switzerland lacks many of the legal and cultural barriers to mobility present elsewhere in Europe. Our analysis of the economic shocks experienced by Switzerland and the EMU has revealed a strong symmetry between macroeconomic indicators between the two from 1995 to The Euro:SFr exchange rate has been remarkably stable during this period as well, and especially since Finally, Switzerland s economy is strongly dependant on trade flows both to and from the Euro zone countries, with well over half of its imports and exports traded with these countries. To a lesser extent, the Euro zone is also dependant on trade with Switzerland. Our conclusion is that the gains arising from Swiss adoption of the Euro would outweigh the costs for each party. On strictly economic grounds, we recommend Swiss adoption of the Euro. Conclusion We have more or less limited our discussion to whether the Swiss will benefit from joining the EMU, not the other way around. Taking the other perspective, we believe the EMU would also benefit from having Switzerland as a member. As noted above, little Switzerland accounts for a rather large percentage of the Euro area s external trade. Switzerland has easily met the constraints of the Stability and Growth Pact for the past ten years (see Figures 8 and 9), something which even some much larger EMU members cannot claim. Also, Switzerland is a rich, stable country with a highly developed financial sector. Lastly, while on economic grounds we have made the case that Switzerland should join the EMU, we have not discussed the political ramifications and complications. Joining the EMU would mean amending the Constitution in a number of areas. First, it would mean easing Switzerland s substantial commitment to neutrality and sovereignty. Second, it would require a change to Swiss bank secrecy legislation to allow for direct taxation. This would impair one of the country s biggest service sectors, the banking system. Third, it would require Swiss citizens to give up some of their voting rights to the common good of the European Union. For a country that is focused on people s initiatives, this is a large departure from the status quo 12. For these amendments to be made to the Constitution there would have to be referendum in Switzerland with a majority in favor which, given historical voting patterns, is very unlikely. Thus, while it may economically justifiable to join the EMU, politically Switzerland would not be able to achieve such integration at this time. It might instead opt for declared currency peg, or it may continue down what is, by all appearances, a de facto peg to the Euro. 12 Economist Intelligence Unit: Country Profile Switzerland

7 Bibliography * CH-EU Integration Office, Bilateral Agreements I & II, April, See CIA, Switzerland, The World Factbook, Economist Intelligence Unit, Switzerland, Country Profile, The Economist, One country says yes, June 9, Migration Information Source, Switzerland Faces Common European Challenges, Country Profiles, February, See Swiss Federal Office for Migration, Free movement of persons Switzerland-EU15, April, See Swiss National Bank, Währungsreserven der Schweiz, Daten und Statistiken, Wikipedia, Eurozone, April, See World Trade Organization, Switzerland, Country Profile, World Trade Organization, Trade by Region, International Trade Statistics, * All data in Figures 2-7 are from the Economist Intelligence Unit online.

8 Figure 1

9

10

11

12

Chapter 21 (10) Optimum Currency Areas and the Euro

Chapter 21 (10) Optimum Currency Areas and the Euro Chapter 21 (10) Optimum Currency Areas and the Euro Preview The European Union The European Monetary System Policies of the EU and the EMS Theory of optimal currency areas Is the EU an optimal currency

More information

Chapter 20. Preview. What Is the EU? Optimum Currency Areas and the European Experience

Chapter 20. Preview. What Is the EU? Optimum Currency Areas and the European Experience Chapter 20 Optimum Currency Areas and the European Experience Slides prepared by Thomas Bishop Copyright 2009 Pearson Addison-Wesley. All rights reserved. Preview The European Union The European Monetary

More information

A2 Economics. Enlargement Countries and the Euro. tutor2u Supporting Teachers: Inspiring Students. Economics Revision Focus: 2004

A2 Economics. Enlargement Countries and the Euro. tutor2u Supporting Teachers: Inspiring Students. Economics Revision Focus: 2004 Supporting Teachers: Inspiring Students Economics Revision Focus: 2004 A2 Economics tutor2u (www.tutor2u.net) is the leading free online resource for Economics, Business Studies, ICT and Politics. Don

More information

Chapter 20. Optimum Currency Areas and the European Experience. Slides prepared by Thomas Bishop

Chapter 20. Optimum Currency Areas and the European Experience. Slides prepared by Thomas Bishop Chapter 20 Optimum Currency Areas and the European Experience Slides prepared by Thomas Bishop Preview The European Union The European Monetary System Policies of the EU and the EMS Theory of optimal currency

More information

The Outlook for EU Migration

The Outlook for EU Migration Briefing Paper 4.29 www.migrationwatchuk.com Summary 1. Large scale net migration is a new phenomenon, having begun in 1998. Between 1998 and 2010 around two thirds of net migration came from outside the

More information

Message by the Head of Delegation

Message by the Head of Delegation Message by the Head of Delegation The Delegation of the European Union in Riyadh, which is accredited to Saudi Arabia, Bahrain, Kuwait, Oman and Qatar, is Europe s diplomatic mission to the region. It

More information

Comparative Economic Geography

Comparative Economic Geography Comparative Economic Geography 1 WORLD POPULATION gross world product (GWP) The GWP Global GDP In 2012: GWP totalled approximately US $83.12 trillion in terms of PPP while the per capita GWP was approx.

More information

Economics of European Integration Lecture # 10 Monetary Integration II

Economics of European Integration Lecture # 10 Monetary Integration II Economics of European Integration Lecture # 10 Monetary Integration II Fall Semester 2008 Gerald Willmann Gerald Willmann, Department of Economics, KU Leuven The EMS: Past and Present The EMS was originally

More information

Study. Importance of the German Economy for Europe. A vbw study, prepared by Prognos AG Last update: February 2018

Study. Importance of the German Economy for Europe. A vbw study, prepared by Prognos AG Last update: February 2018 Study Importance of the German Economy for Europe A vbw study, prepared by Prognos AG Last update: February 2018 www.vbw-bayern.de vbw Study February 2018 Preface A strong German economy creates added

More information

Differences in National IQs behind the Eurozone Debt Crisis?

Differences in National IQs behind the Eurozone Debt Crisis? 3 Differences in National IQs behind the Eurozone Debt Crisis? Tatu Vanhanen * Department of Political Science, University of Helsinki The purpose of this article is to explore the causes of the European

More information

Reflections on Americans Views of the Euro Ex Ante. I am pleased to participate in this session on the 10 th anniversary

Reflections on Americans Views of the Euro Ex Ante. I am pleased to participate in this session on the 10 th anniversary Reflections on Americans Views of the Euro Ex Ante Martin Feldstein I am pleased to participate in this session on the 10 th anniversary of the start of the Euro and the European Economic and Monetary

More information

Brexit. Alan V. Deardorff University of Michigan. For presentation at Adult Learning Institute April 11,

Brexit. Alan V. Deardorff University of Michigan. For presentation at Adult Learning Institute April 11, Brexit Alan V. Deardorff University of Michigan For presentation at Adult Learning Institute April 11, 2017 Brexit Defined: The exit of the United Kingdom from the European Union What that actually means

More information

After the crisis: what new lessons for euro adoption?

After the crisis: what new lessons for euro adoption? After the crisis: what new lessons for euro adoption? Zsolt Darvas Croatian Parliament 15 November 2017, Zagreb Background and questions Among the first 15 EU member states, Mediterranean countries experienced

More information

THE BARCELONA PARTNER COUNTRIES AND THEIR RELATIONS WITH THE EURO AREA

THE BARCELONA PARTNER COUNTRIES AND THEIR RELATIONS WITH THE EURO AREA THE BARCELONA PARTNER COUNTRIES AND THEIR RELATIONS WITH THE EURO AREA On 15 January 24 the Eurosystem held its first high-level seminar with the central banks of the 12 partner countries of the Barcelona

More information

Weekly Geopolitical Report

Weekly Geopolitical Report Weekly Geopolitical Report By Kaisa Stucke, CFA February 29, 2016 Brexit The U.K. joined the European Common Market, what is now known as the EU, in 1973. In 1992, the Maastricht Treaty formally created

More information

THE CZECH REPUBLIC AND THE EURO. Policy paper Europeum European Policy Forum May 2002

THE CZECH REPUBLIC AND THE EURO. Policy paper Europeum European Policy Forum May 2002 THE CZECH REPUBLIC AND THE EURO Policy paper 1. Introduction: Czech Republic and Euro The analysis of the accession of the Czech Republic to the Eurozone (EMU) will deal above all with two closely interconnected

More information

Christian KEUSCHNIGG. Europe after Brexit

Christian KEUSCHNIGG. Europe after Brexit Christian KEUSCHNIGG Europe after Brexit Executive MBL-HSG & HSG Alumni, Zürich, 13. September 2016 Wirtschaftspolitisches Zentrum Wien St. Gallen www.wpz-fgn.com, office@wpz-fgn.com Plan of Talk Brexit

More information

Evolution of the European Union, the euro and the Eurozone Sovereign Debt Crisis

Evolution of the European Union, the euro and the Eurozone Sovereign Debt Crisis Evolution of the European Union, the euro and the Eurozone Sovereign Debt Crisis Brexit? Dr. Julian Gaspar, Executive Director Center for International Business Studies & Clinical Professor of International

More information

THE RECENT TREND OF ROMANIA S INTERNATIONAL TRADE IN GOODS

THE RECENT TREND OF ROMANIA S INTERNATIONAL TRADE IN GOODS THE RECENT TREND OF ROMANIA S INTERNATIONAL TRADE IN GOODS Andrei Cristian Balasan * Abstract: The article analyses the recent developments regarding the Romania trade in goods. We highlight how Romania

More information

Chapter Ten Growth, Immigration, and Multinationals

Chapter Ten Growth, Immigration, and Multinationals Chapter Ten Growth, Immigration, and Multinationals 2003 South-Western/Thomson Learning Chapter Ten Outline 1. What if Factors Can Move? 2 What if Factors Can Move? Welfare analysis of factor movements

More information

The first eleven years of Finland's EU-membership

The first eleven years of Finland's EU-membership 1 (7) Sinikka Salo 16 January 2006 Member of the Board The first eleven years of Finland's EU-membership Remarks by Ms Sinikka Salo in the Panel "The Austrian and Finnish EU-Presidencies: Positive Experiences

More information

Economics of European Integration Lecture # 6 Migration and Growth

Economics of European Integration Lecture # 6 Migration and Growth Economics of European Integration Lecture # 6 Migration and Growth Winter Semester 2013/14 Gerald Willmann Gerald Willmann, Department of Economics, Bielefeld University Migration Facts and Theory Immigration:

More information

International Summer Program June 26 th to July 17 th, 2006

International Summer Program June 26 th to July 17 th, 2006 International Summer Program June 26 th to July 17 th, 2006 Economic Integration By Matthias Kirbach Main elements of this session What is economic integration? Why should we be interested in the process

More information

The statistical regions of Europe as delineated by the United Nations as: Northern, Western,

The statistical regions of Europe as delineated by the United Nations as: Northern, Western, Regional Economy Paper: Geography The statistical regions of Europe as delineated by the United Nations as: Northern, Western, Eastern and Southern Europe. Western Europe has a long history of trade, free

More information

From Europe to the Euro

From Europe to the Euro From Europe to the Euro Presentation ti by Eva Horelová Deputy Spokesperson, Deputy Head of Press and Public Diplomacy Delegation of the European Union to the United States Florida Student Orientation,

More information

International Summer Program

International Summer Program University of Ulm International Summer Program European Integration European Union An Overview Prof. Dr. Werner Smolny, Tuesday, June 21, 2005 University of Ulm, International Summer Program 2005, June

More information

Work and income SLFS 2016 in brief. The Swiss Labour Force Survey. Neuchâtel 2017

Work and income SLFS 2016 in brief. The Swiss Labour Force Survey. Neuchâtel 2017 03 Work and income 363-1600 SLFS 2016 in brief The Swiss Labour Force Survey Neuchâtel 2017 Published by: Information: Editors: Series: Topic : Original text: Translation: Layout: Graphics: Front page:

More information

THE FUNCTIONING OF THE TROIKA : MAIN MESSAGES FROM THE ETUC REPORT. Athens, March 2014

THE FUNCTIONING OF THE TROIKA : MAIN MESSAGES FROM THE ETUC REPORT. Athens, March 2014 THE FUNCTIONING OF THE TROIKA : MAIN MESSAGES FROM THE ETUC REPORT Athens, March 2014 rjanssen@etuc.org THE PICTURE THAT EMERGES. IS A PICTURE OF A COUNTRY BEING TAKEN OVER NOT A «SILENT» TAKEOVER.. BUT

More information

65. Broad access to productive jobs is essential for achieving the objective of inclusive PROMOTING EMPLOYMENT AND MANAGING MIGRATION

65. Broad access to productive jobs is essential for achieving the objective of inclusive PROMOTING EMPLOYMENT AND MANAGING MIGRATION 5. PROMOTING EMPLOYMENT AND MANAGING MIGRATION 65. Broad access to productive jobs is essential for achieving the objective of inclusive growth and help Turkey converge faster to average EU and OECD income

More information

Economic Effects in Slovenia within Integration in European Union

Economic Effects in Slovenia within Integration in European Union Journal of Empirical Research in Accounting & Auditing ISSN (2384-4787) J. Emp. Res. Acc. Aud. 2, No. 2 (Oct. -2015) Economic Effects in Slovenia within Integration in European Union Amir Imeri AMA International

More information

Migration and the European Job Market Rapporto Europa 2016

Migration and the European Job Market Rapporto Europa 2016 Migration and the European Job Market Rapporto Europa 2016 1 Table of content Table of Content Output 11 Employment 11 Europena migration and the job market 63 Box 1. Estimates of VAR system for Labor

More information

An OCA study in Europe An empirical investigation of the EU countries conditions for qualifying for the Economic and Monetary Union

An OCA study in Europe An empirical investigation of the EU countries conditions for qualifying for the Economic and Monetary Union M.Sc. thesis in Business Administration (Finance and International Business) Author: Lasse Gavnholt Jygert Advisor: Philipp Schröder An OCA study in Europe An empirical investigation of the EU countries

More information

The European Union Key Stage 4 Learning for Life & Work GCSE Economics GCSE Business Studies

The European Union Key Stage 4 Learning for Life & Work GCSE Economics GCSE Business Studies The European Union Aim: To explore the aims and role of the European Union, analyse its effects and consider the impact of economic migration and identity on the UK and the Euro zone economies. Session

More information

THE DEVELOPMENT OF ECONOMIES OF THE EUROPEAN UNION MEMBER STATES IN THE PERIOD OF

THE DEVELOPMENT OF ECONOMIES OF THE EUROPEAN UNION MEMBER STATES IN THE PERIOD OF THE DEVELOPMENT OF ECONOMIES OF THE EUROPEAN UNION MEMBER STATES IN THE PERIOD OF 2003-2014. Mariusz Rogalski Maria Curie-Sklodowska University, Poland mariusz.rogalski@poczta.umcs.lublin.pl Abstract:

More information

Quo vadis, Europe? Economic Perspectives on Brexit

Quo vadis, Europe? Economic Perspectives on Brexit Seminar für Internationale Wirtschaftsbeziehungen Dr. Jan Schymik Quo vadis, Europe? Economic Perspectives on Brexit Vertretungsvorlesung Außenhandelstheorie und -politik 26. Januar 2017 Introduction UK

More information

International Migration and the Welfare State. Prof. Panu Poutvaara Ifo Institute and University of Munich

International Migration and the Welfare State. Prof. Panu Poutvaara Ifo Institute and University of Munich International Migration and the Welfare State Prof. Panu Poutvaara Ifo Institute and University of Munich 1. Introduction During the second half of 20 th century, Europe changed from being primarily origin

More information

A SUPRANATIONAL RESPONSIBILITY 1. A Supranational Responsibility: Perceptions of Immigration in the European Union. Kendall Curtis.

A SUPRANATIONAL RESPONSIBILITY 1. A Supranational Responsibility: Perceptions of Immigration in the European Union. Kendall Curtis. A SUPRANATIONAL RESPONSIBILITY 1 A Supranational Responsibility: Perceptions of Immigration in the European Union Kendall Curtis Baylor University 2 Abstract This paper analyzes the prevalence of anti-immigrant

More information

European Parliament Eurobarometer (EB79.5) ONE YEAR TO GO UNTIL THE 2014 EUROPEAN ELECTIONS Institutional Part ANALYTICAL OVERVIEW

European Parliament Eurobarometer (EB79.5) ONE YEAR TO GO UNTIL THE 2014 EUROPEAN ELECTIONS Institutional Part ANALYTICAL OVERVIEW Directorate-General for Communication Public Opinion Monitoring Unit Brussels, 21 August 2013. European Parliament Eurobarometer (EB79.5) ONE YEAR TO GO UNTIL THE 2014 EUROPEAN ELECTIONS Institutional

More information

CONSUMER PROTECTION IN THE EU

CONSUMER PROTECTION IN THE EU Special Eurobarometer European Commission CONSUMER PROTECTION IN THE EU Special Eurobarometer / Wave 59.2-193 - European Opinion Research Group EEIG Fieldwork: May-June 2003 Publication: November 2003

More information

International Summer Program

International Summer Program page 1 International Summer Program 1 July 2010 page 2 Agenda European Union Introduction EU EU History EU Institutions EU (Monetary) Integration: Advantages/Problems Conclusion 1 page 3 CIA - The World

More information

The UK and the European Union Insights from ICAEW Employment

The UK and the European Union Insights from ICAEW Employment The UK and the European Union Insights from ICAEW Employment BUSINESS WITH CONFIDENCE icaew.com The issues at the heart of the debate This paper is one of a series produced in advance of the EU Referendum

More information

Economics Level 2 Unit Plan Version: 26 June 2009

Economics Level 2 Unit Plan Version: 26 June 2009 Economic Advantages of the European Union An Inquiry into Economic Growth and Trade Relationships for European Union Member States Resources 1. A brief history Post-World War II Europe In 1945, a great

More information

Belgium s foreign trade

Belgium s foreign trade Belgium s FIRST 9 months Belgium s BELGIAN FOREIGN TRADE AFTER THE FIRST 9 MONTHS OF Analysis of the figures for (first 9 months) (Source: eurostat - community concept*) After the first nine months of,

More information

Capitalizing on Global and Regional Integration. Chapter 8

Capitalizing on Global and Regional Integration. Chapter 8 Capitalizing on Global and Regional Integration Chapter 8 Objectives Importance of economic integration Global integration Regional integration Regional organizations of interest Implications for action

More information

European and External Relations Committee. The Transatlantic Trade and Investment Partnership (TTIP) STUC

European and External Relations Committee. The Transatlantic Trade and Investment Partnership (TTIP) STUC European and External Relations Committee The Transatlantic Trade and Investment Partnership (TTIP) 1 Introduction STUC The STUC welcomes this opportunity to provide written evidence to the Committee in

More information

SUPPLEMENTARY EVIDENCE BAR COUNCIL HOUSE OF LORDS EU INTERNAL MARKET SUB-COMMITTEE INQUIRY BREXIT: FUTURE TRADE BETWEEN THE UK AND EU IN SERVICES

SUPPLEMENTARY EVIDENCE BAR COUNCIL HOUSE OF LORDS EU INTERNAL MARKET SUB-COMMITTEE INQUIRY BREXIT: FUTURE TRADE BETWEEN THE UK AND EU IN SERVICES SUPPLEMENTARY EVIDENCE BAR COUNCIL HOUSE OF LORDS EU INTERNAL MARKET SUB-COMMITTEE INQUIRY BREXIT: FUTURE TRADE BETWEEN THE UK AND EU IN SERVICES Introduction 1. This submission from the Bar Council Brexit

More information

Britain s Population Exceptionalism within the European Union

Britain s Population Exceptionalism within the European Union Britain s Population Exceptionalism within the European Union Introduction The United Kingdom s rate of population growth far exceeds that of most other European countries. This is particularly problematic

More information

Eastern Europe: Economic Developments and Outlook. Miroslav Singer

Eastern Europe: Economic Developments and Outlook. Miroslav Singer Eastern Europe: Economic Developments and Outlook Miroslav Singer Governor, Czech National Bank Distinguished Speakers Seminar European Economics & Financial Centre London, 22 July 2014 Miroslav Význam

More information

Are Labour Markets in the New Member States sufficiently flexible for EMU?

Are Labour Markets in the New Member States sufficiently flexible for EMU? ECB/CEPR Labour Market Workshop 2005 Are Labour Markets in the New Member States sufficiently flexible for EMU? Frankfurt am Main, Eurotower 20-21 June 2005 Tito Boeri and Pietro Garibaldi Fondazione RDB,

More information

Challenges for Baltics as for the Eurozone countries having Advanced Economy status

Challenges for Baltics as for the Eurozone countries having Advanced Economy status Challenges for Baltics as for the Eurozone countries having Advanced Economy status 4th European High-level Panel Discussion on Banking Vilnius, February 4, 216 Bas B. Bakker Senior Regional Resident Representative

More information

The Mystery of Economic Growth by Elhanan Helpman. Chiara Criscuolo Centre for Economic Performance London School of Economics

The Mystery of Economic Growth by Elhanan Helpman. Chiara Criscuolo Centre for Economic Performance London School of Economics The Mystery of Economic Growth by Elhanan Helpman Chiara Criscuolo Centre for Economic Performance London School of Economics The facts Burundi, 2006 Sweden, 2006 According to Maddison, in the year 1000

More information

THE NON COMPETITIVENESS OF THE EUROPEAN UNION

THE NON COMPETITIVENESS OF THE EUROPEAN UNION THE NON COMPETITIVENESS OF THE EUROPEAN UNION Jorge A. Vasconcellos e Sá MBA Drucker School PhD Columbia University Jean Monnet Chair (Brussels) VS Vasconcellos e Sá Associates, S.A. nop4867@mail.telepac.pt

More information

Brexit essentials: Alternatives to EU membership

Brexit essentials: Alternatives to EU membership Brexit essentials: Alternatives to EU membership This is the second in a series of briefings covering the essential aspects of the UK s referendum on EU membership, which Prime Minister David Cameron has

More information

EuCham Charts. October Youth unemployment rates in Europe. Rank Country Unemployment rate (%)

EuCham Charts. October Youth unemployment rates in Europe. Rank Country Unemployment rate (%) EuCham Charts October 2015 Youth unemployment rates in Europe Rank Country Unemployment rate (%) 1 Netherlands 5.0 2 Norway 5.5 3 Denmark 5.8 3 Iceland 5.8 4 Luxembourg 6.3... 34 Moldova 30.9 Youth unemployment

More information

ISSUE BRIEF: U.S. Immigration Priorities in a Global Context

ISSUE BRIEF: U.S. Immigration Priorities in a Global Context Immigration Task Force ISSUE BRIEF: U.S. Immigration Priorities in a Global Context JUNE 2013 As a share of total immigrants in 2011, the United States led a 24-nation sample in familybased immigration

More information

A COMPARISON OF ARIZONA TO NATIONS OF COMPARABLE SIZE

A COMPARISON OF ARIZONA TO NATIONS OF COMPARABLE SIZE A COMPARISON OF ARIZONA TO NATIONS OF COMPARABLE SIZE A Report from the Office of the University Economist July 2009 Dennis Hoffman, Ph.D. Professor of Economics, University Economist, and Director, L.

More information

Through the Financial Crisis

Through the Financial Crisis Comments on: How Latvia Came Through the Financial Crisis Mark Griffiths (mgriffiths@imf.org) European Department International Monetary Fund Outline 1. Economic performance under the program Program succeeded

More information

Mobility of Rights 1

Mobility of Rights 1 Mobility of Rights 1 Exchange Rates, Labor Mobility and Immigration Policies in an Integrated World Adrian J. Shin University of Michigan November 9, 2012 1 Prepared for IPES 2012. This material is based

More information

European Parliament Eurobarometer (EB79.5) ONE YEAR TO GO TO THE 2014 EUROPEAN ELECTIONS Economic and social part DETAILED ANALYSIS

European Parliament Eurobarometer (EB79.5) ONE YEAR TO GO TO THE 2014 EUROPEAN ELECTIONS Economic and social part DETAILED ANALYSIS Directorate-General for Communication Public Opinion Monitoring Unit Brussels, 18 October 2013 European Parliament Eurobarometer (EB79.5) ONE YEAR TO GO TO THE 2014 EUROPEAN ELECTIONS Economic and social

More information

Chapter 9. Regional Economic Integration

Chapter 9. Regional Economic Integration Chapter 9 Regional Economic Integration Global Talent Crunch The Global Talent Crunch Over the next decade, it is estimated that the growth in demand for collegeeducated talent will exceed the growth in

More information

From Europe to the Euro. Delegation of the European Union to the United States

From Europe to the Euro. Delegation of the European Union to the United States From Europe to the Euro Delegation of the European Union to the United States www.euro-challenge.org What is the European Union? A unique institution Member States voluntarily cede national sovereignty

More information

History Over the past decades, US relations have been mostly positive either with the EU and its predecessors or the individual countries of western E

History Over the past decades, US relations have been mostly positive either with the EU and its predecessors or the individual countries of western E US EU Relations: redefining win-win By Frank Owarish, Ph.D., International Business, Ph.D., Computer Science, Executive Director International Institute for Strategic Research and Training (think tank)

More information

TheEuroAfterThreeYears

TheEuroAfterThreeYears TheEuroAfterThreeYears REINHARD NECK Atlantic Econ. J., 30(3): pp. 236-43, Sept. 02 c All Rights Reserved At the beginning of 1999, 11 countries (Austria, Belgium, Finland, France, Germany, Ireland, Italy,

More information

European Union Passport

European Union Passport European Union Passport European Union Passport How the EU works The EU is a unique economic and political partnership between 28 European countries that together cover much of the continent. The EU was

More information

Aid spending by Development Assistance Committee donors in 2015

Aid spending by Development Assistance Committee donors in 2015 Aid spending by Development Assistance Committee donors in 2015 Overview of key trends in official development assistance emerging from the provisional 2015 Development Assistance Committee data release

More information

For example, some EU countries would cooperate in the areas of:

For example, some EU countries would cooperate in the areas of: ECONOMICS ECONOMIC RESEARCH June 23, 216 No. 632 Towards a European Union "à la carte"? The debate in the United Kingdom on a Brexit and the debates in different European countries on the respective role

More information

7 Economic consequences of Brexit strategy for Hungary

7 Economic consequences of Brexit strategy for Hungary 7 Economic consequences of Brexit strategy for Hungary CERS-HAS and CEPR Potential effects of Brexit on the Hungarian economy Direct trade between Hungary and the UK has been quite modest, which means

More information

(Re)creating a market economy: the case of the Czech Republic

(Re)creating a market economy: the case of the Czech Republic Karel Dyba (notes for the lecture), 30.1.2018 (Re)creating a market economy: the case of the Czech Republic 1. Historical background 2. What happened after 2 nd World War 3. Transformation policies and

More information

Extended Findings. Finland. ecfr.eu/eucoalitionexplorer. Question 1: Most Contacted

Extended Findings. Finland. ecfr.eu/eucoalitionexplorer. Question 1: Most Contacted Extended Findings Finland Preferences Question 1: Most Contacted Finland (2%) is not amongst the most contacted countries within the EU: Germany (22%), France (13%), the UK (11%), Poland (7%), Italy (6%),

More information

OLLI 2012 Europe s Destiny Session II Integration and Recovery Transformative innovation or Power Play with a little help from our friends?

OLLI 2012 Europe s Destiny Session II Integration and Recovery Transformative innovation or Power Play with a little help from our friends? OLLI 2012 Europe s Destiny Session II Integration and Recovery Transformative innovation or Power Play with a little help from our friends? Treaties The European Union? Power Today s Menu Myth or Reality?

More information

April aid spending by Development Assistance Committee (DAC) donors in factsheet

April aid spending by Development Assistance Committee (DAC) donors in factsheet April 2017 aid spending by Development Assistance Committee (DAC) donors in 2016 factsheet In this factsheet we provide an overview of key trends in official development assistance (ODA) emerging from

More information

International Egg Market Annual Review

International Egg Market Annual Review 07 International Egg Market Annual Review Global and regional development of egg production TABLE 1 2005 COUNTRY PRODUCTION SHARE (1,000 T) (%) 2006 COUNTRY PRODUCTION SHARE (1,000 T) (%) TABLE 2 COUNTRY

More information

QUO VADIS EUROPEAN UNION?

QUO VADIS EUROPEAN UNION? EVALUATION NOTE April2010 N201010 tepav Economic Policy Research Foundation of Turkey Nilgün ARISAN ERALP 1 Director, TEPAV European Union Institute The challenging process European Union has been going

More information

EU-Japan Economic Relations (Lecture No.1) Learning about Europe and EU-Japan relations. Yukichi Fukuzawa( ) founder of Keio Gijuku

EU-Japan Economic Relations (Lecture No.1) Learning about Europe and EU-Japan relations. Yukichi Fukuzawa( ) founder of Keio Gijuku EU-Japan Economic Relations (Lecture No.1) -Introduction- Sahoko KAJI Hideki HAYASHI 29 th September 2006 Yukichi Fukuzawa(1835-1901) founder of Keio Gijuku 1858: Founded Keio Gijuku 1860: Voyage to the

More information

Migration, Mobility and Integration in the European Labour Market. Lorenzo Corsini

Migration, Mobility and Integration in the European Labour Market. Lorenzo Corsini Migration, Mobility and Integration in the European Labour Market Lorenzo Corsini Content of the lecture We provide some insight on -The degree of differentials on some key labourmarket variables across

More information

André Sapir. Professor Université Libre de Bruxelles and Senior Fellow Bruegel

André Sapir. Professor Université Libre de Bruxelles and Senior Fellow Bruegel Professor Université Libre de Bruxelles and Senior Fellow Bruegel Reviving growth in the euro area: Demand management or structural reform policy? The European Union (EU) and the euro area in particular

More information

GERMANY, JAPAN AND INTERNATIONAL PAYMENT IMBALANCES

GERMANY, JAPAN AND INTERNATIONAL PAYMENT IMBALANCES Articles Articles Articles Articles Articles CENTRAL EUROPEAN REVIEW OF ECONOMICS & FINANCE Vol. 2, No. 1 (2012) pp. 5-18 Slawomir I. Bukowski* GERMANY, JAPAN AND INTERNATIONAL PAYMENT IMBALANCES Abstract

More information

2 EU exports to Indonesia Malaysia and Thailand across

2 EU exports to Indonesia Malaysia and Thailand across 1 EU exports to Indonesia Malaysia and In 2017, the EU exported goods to Indonesia Malaysia and worth EUR 39.5 billion. This is equivalent to 2.1 per cent of total EU exports of goods to non-eu countries.

More information

EUROPEAN UNION CURRENCY/MONEY

EUROPEAN UNION CURRENCY/MONEY EUROPEAN UNION S6E8 ANALYZE THE BENEFITS OF AND BARRIERS TO VOLUNTARY TRADE IN EUROPE D. DESCRIBE THE PURPOSE OF THE EUROPEAN UNION AND THE RELATIONSHIP BETWEEN MEMBER NATIONS. VOCABULARY European Union

More information

Labour mobility within the EU - The impact of enlargement and the functioning. of the transitional arrangements

Labour mobility within the EU - The impact of enlargement and the functioning. of the transitional arrangements Labour mobility within the EU - The impact of enlargement and the functioning of the transitional arrangements Tatiana Fic, Dawn Holland and Paweł Paluchowski National Institute of Economic and Social

More information

THE DESTABILIZING POTENTIAL OF EUROPE S MIGRANT CRISIS BY ANWITI BAHUGUNA, PH.D GLOBAL PERSPECTIVES

THE DESTABILIZING POTENTIAL OF EUROPE S MIGRANT CRISIS BY ANWITI BAHUGUNA, PH.D GLOBAL PERSPECTIVES THE DESTABILIZING POTENTIAL OF EUROPE S MIGRANT CRISIS BY ANWITI BAHUGUNA, PH.D. 2016 GLOBAL PERSPECTIVES THE DESTABILIZING POTENTIAL OF EUROPE S MIGRANT CRISIS Europe s worsening migrant crisis could

More information

From Europe to the Euro Student Orientations 2014 Euro Challenge

From Europe to the Euro Student Orientations 2014 Euro Challenge From Europe to the Euro Student Orientations 2014 Euro Challenge www.euro-challenge.org 1 What is the European Union? A unique institution Member States voluntarily cede national sovereignty in many areas

More information

BUILDING RESILIENT REGIONS FOR STRONGER ECONOMIES OECD

BUILDING RESILIENT REGIONS FOR STRONGER ECONOMIES OECD o: o BUILDING RESILIENT REGIONS FOR STRONGER ECONOMIES OECD Table of Contents Acronyms and Abbreviations 11 List of TL2 Regions 13 Preface 16 Executive Summary 17 Parti Key Regional Trends and Policies

More information

HIGHLIGHTS. There is a clear trend in the OECD area towards. which is reflected in the economic and innovative performance of certain OECD countries.

HIGHLIGHTS. There is a clear trend in the OECD area towards. which is reflected in the economic and innovative performance of certain OECD countries. HIGHLIGHTS The ability to create, distribute and exploit knowledge is increasingly central to competitive advantage, wealth creation and better standards of living. The STI Scoreboard 2001 presents the

More information

EU exports to Indonesia, Malaysia and Thailand

EU exports to Indonesia, Malaysia and Thailand EU exports to Indonesia, Malaysia and Note prepared for the Malaysian Palm Oil Council May 2018 EU exports of goods to Indonesia, Malaysia and amounted to EUR 39.5 billion in 2017 and supported at least

More information

THE CORRUPTION AND THE ECONOMIC PERFORMANCE

THE CORRUPTION AND THE ECONOMIC PERFORMANCE THE CORRUPTION AND THE ECONOMIC PERFORMANCE Jana Soukupová Abstract The paper deals with comparison of the level of the corruption in different countries and the economic performance with short view for

More information

The Politics of Egalitarian Capitalism; Rethinking the Trade-off between Equality and Efficiency

The Politics of Egalitarian Capitalism; Rethinking the Trade-off between Equality and Efficiency The Politics of Egalitarian Capitalism; Rethinking the Trade-off between Equality and Efficiency Week 3 Aidan Regan Democratic politics is about distributive conflict tempered by a common interest in economic

More information

Options for Romanian and Bulgarian migrants in 2014

Options for Romanian and Bulgarian migrants in 2014 Briefing Paper 4.27 www.migrationwatchuk.com Summary 1. The UK, Germany, France and the Netherlands are the four major countries opening their labour markets in January 2014. All four are likely to be

More information

From Europe to the Euro Student Orientations 2013 Euro Challenge

From Europe to the Euro Student Orientations 2013 Euro Challenge From Europe to the Euro Student Orientations 2013 Euro Challenge www.euro-challenge.org 1 What is the European Union? A unique institution Member States voluntarily cede national sovereignty in many areas

More information

Curing Europe s Growing Pains: Which Reforms?

Curing Europe s Growing Pains: Which Reforms? Curing Europe s Growing Pains: Which Reforms? Luc Everaert Assistant Director European Department International Monetary Fund Brussels, 21 November Copyright rests with the author. All rights reserved.

More information

GDP - AN INDICATOR OF PROSPERITY OR A MISLEADING ONE? CRIVEANU MARIA MAGDALENA, PHD STUDENT, UNIVERSITATEA DIN CRAIOVA, ROMANIA

GDP - AN INDICATOR OF PROSPERITY OR A MISLEADING ONE? CRIVEANU MARIA MAGDALENA, PHD STUDENT, UNIVERSITATEA DIN CRAIOVA, ROMANIA GDP - AN INDICATOR OF PROSPERITY OR A MISLEADING ONE? CRIVEANU MARIA MAGDALENA, PHD STUDENT, UNIVERSITATEA DIN CRAIOVA, ROMANIA mag_da64 @yahoo.com Abstract The paper presents a comparative analysis of

More information

Mark Allen. The Financial Crisis and Emerging Europe: What Happened and What s Next? Senior IMF Resident Representative for Central and Eastern Europe

Mark Allen. The Financial Crisis and Emerging Europe: What Happened and What s Next? Senior IMF Resident Representative for Central and Eastern Europe The Financial Crisis and Emerging Europe: What Happened and What s Next? Seminar with Romanian Trade Unions Bucharest, November 2, 21 Mark Allen Senior IMF Resident Representative for Central and Eastern

More information

Magdalena Bonev. University of National and World Economy, Sofia, Bulgaria

Magdalena Bonev. University of National and World Economy, Sofia, Bulgaria China-USA Business Review, June 2018, Vol. 17, No. 6, 302-307 doi: 10.17265/1537-1514/2018.06.003 D DAVID PUBLISHING Profile of the Bulgarian Emigrant in the International Labour Migration Magdalena Bonev

More information

Main findings of the joint EC/OECD seminar on Naturalisation and the Socio-economic Integration of Immigrants and their Children

Main findings of the joint EC/OECD seminar on Naturalisation and the Socio-economic Integration of Immigrants and their Children MAIN FINDINGS 15 Main findings of the joint EC/OECD seminar on Naturalisation and the Socio-economic Integration of Immigrants and their Children Introduction Thomas Liebig, OECD Main findings of the joint

More information

The first decade of transition for the

The first decade of transition for the ACCESSION OF TRANSITION ECONOMIES TO THE EUROPEAN UNION: PROSPECTS AND PRESSURES The first decade of transition for the countries of central and eastern Europe and the Baltics (CEECs) was marked by a substantial

More information

Effect of the appreciation of the Swiss franc on the Ticinian Job Market

Effect of the appreciation of the Swiss franc on the Ticinian Job Market On the 15th of January, the Swiss National Bank, decided to remove the cap on the Swiss Franc-Euro exchange rate that was fixed at 1.2CHF/ since 2011. I m not going to look at the financial reasons that

More information

Flash Eurobarometer 429. Summary. The euro area

Flash Eurobarometer 429. Summary. The euro area LOGO CE_Vertical_EN_NEG_quadri rouge Summary Survey requested by the European Commission, Directorate-General for Economic and Financial Affairs and co-ordinated by the Directorate-General for Communication

More information

3 Wage adjustment and employment in Europe: some results from the Wage Dynamics Network Survey

3 Wage adjustment and employment in Europe: some results from the Wage Dynamics Network Survey 3 Wage adjustment and in Europe: some results from the Wage Dynamics Network Survey This box examines the link between collective bargaining arrangements, downward wage rigidities and. Several past studies

More information

The evolution of turnout in European elections from 1979 to 2009

The evolution of turnout in European elections from 1979 to 2009 The evolution of turnout in European elections from 1979 to 2009 Nicola Maggini 7 April 2014 1 The European elections to be held between 22 and 25 May 2014 (depending on the country) may acquire, according

More information

New York County Lawyers Association Continuing Legal Education Institute 14 Vesey Street, New York, N.Y (212)

New York County Lawyers Association Continuing Legal Education Institute 14 Vesey Street, New York, N.Y (212) New York County Lawyers Association Continuing Legal Education Institute 14 Vesey Street, New York, N.Y. 10007 (212) 267-6646 Who is Who in the Global Economy And Why it Matters June 20, 2014; 6:00 PM-6:50

More information