ABSTRACT
As the new century unfolds, the European Union faces two of its biggest ever challenges in the form of EMU (see Chapter 16) and eastward enlargement. The accession of Central and Eastern European (CEE) countries will expand the EU’s total area by one-third and increase its population by over one hundred million with an average GDP per head estimated at 32 per cent of the EU average. Taken together, these developments will fundamentally transform the European Union and radically alter the business environment, creating threats and opportunities for both Western and Eastern European enterprises.
