Last rites for duty free

Article Abstract:

Duty-free sales are to be abolished in the 15 member countries of the European Union (EU) from Jun 1999. The announcement of the intention to abolish duty-free sales was made in 1991, but tax harmonization within the EU has not been carried out as rapidly as had been envisaged. Airport sales are likely to be affected, and as many as 147,000 jobs are threatened. BAA could be affected by the loss of 20 million pounds sterling annual revenue. Tobacco companies could be especially badly hit. Regional airlines could be affected. Countries which have low excise duties are likely to increase their market share at the expense of countries with lower levels.

All Other Specialty Food Stores, Misc. general merchandise stores, Duty Free Shops, Economic aspects, Western Europe, Duty-free stores

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Here comes the euro

Article Abstract:

European monetary union (Emu) is scheduled to start in Jan 1999 though some of the European Union's (EU) 15 members are likely to remain outside the union. Not all EU members will want to join and some may not fulfil the criteria for joining. A new currency, the euro, will be used in place of national currencies. Preparation for Emu has included the European Monetary System (EMS) to encourage exchange rate stability. Decisions on which members will take part in Emu will be made in 1998.

Monetary unions

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