International Economics

International Economics International Economics Enlargement and Deepening of EU The original six members established the European Community in 1957: West Germany, France, Italy, Netherlands, Belgium and Luxemburg. The main reason behind this unification was a specific response to a series of problems, which confronted a group of countries in Western Europe in the immediate aftermaths of 1945. Unification offered Western Europe a means of strengthening itself against both super powers united states and USSR. Stanley (p.30) argued …

…economic growth is kept within sustainable limits. The modest tightening of fiscal policy means that there will be less pressure on the RBA to raise interest rates over the next year. Australia enters 2002 - 03 financial with the promise of surprisingly strong growth after the economic slowdown of 2000 - 01. While the international environment is far more uncertain and global economic conditions remain weak, Australia's prospects for continuing growth remain good in the short to medium term.