It really depends.

The EU has the highest tarrif barriers in the developed world. It could be
argued that it would be an advantage to sell to such a large market, but
Cyprus will also lose out if it buys or sells to non-EU countries. There
is also the argument that development funds may be coming, but they are
going to be thinly stretched - and no economy should base itself on
external aid.

On the other hand there is the loss of decision making power over your
economy (look at the ravages that this has put on Britain's fishing
industry or the mess that it has made of British agriculture). There is
also the problem that most countries joining the EU will be importing
corruption - the EU court of auditors has refused to sign off the EU budget
for five years in a row. And then there is the fact that Cyprus will have
to join Economic and Monetary Union, the best that can be said for that is
that it is an experiment!

Regards,

James Spencer
Third Level Support - Trust Accounts and SecTAX
Solution 6 (UK) Ltd
44 20 8997 5500
44 20 8998 0507
james.spencer@...







economics@yahoo
groups.com To: economics@yahoogroups.com
cc:
05/07/2001 Subject: [economics] Digest
Number 100
08:56
Please respond
to economics







Message: 1
Date: Mon, 18 Jun 2001 09:50:01 -0000
From: demkon@...
Subject: are there any benefits for small countries joining EE?

What is your opinion about small countries joining EE.
At the moment there are two small countries applied for members-
Malta and Cyprus.
What do you think about it?
What are the benefits for both EE and the countires ?

Especially Cyprus has alerady finished the 23 of 31 chapters, has an
inflation 1,4%, and the economy is very well organised.

Is it worth it for small countries be member of EE?















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