Poised to profit
Article Abstract:
Luxembourg is the best prepared of all European Community (EC) members for the imminent single European market of 1992. Luxembourg, with only 2,586 square kilometers of territory and only 370,000 people, is the smallest EC member in terms of size and population, but boasts the third-highest level of industrial production per working day in the EC, excellent industrial relations, very low inflation, an annual current account surplus and the lowest public debt in relation to GDP of any EC member. Luxembourg needs to diversify its economy away from its reliance on the steel and banking industries, needs to maintain the banking sector's good reputation by eliminating money laundering and other shady practices, and needs to update its antiquated educational system.
Publication Name: International Management
Subject: Business, international
ISSN: 0020-7888
Year: 1990
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Malta enters the lists
Article Abstract:
Malta has made a formal application for membership in the European Community (EC). membership would greatly benefit Malta for it has few natural resources other than its deep-water harbors. Malta must press for inclusion in the EC or the country will be left out of the new economic order forming in Europe. Malta possesses two important assets for EC membership: a democratic government and a free-market economy. The government has recently passed legislation that promotes services, including offshore banking, insurance, and shipping.
Publication Name: International Management
Subject: Business, international
ISSN: 0020-7888
Year: 1990
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