Unhappy euro hopefuls

"Happy families are all like; every unhappy family is unhappy in its own way." As the European Union (EU) passed new milestones in its enlargement with Slovenia adopting the euro and Bulgaria and Romania joining on 1 January 2007, the first sentence in Tolstoy's Anna Karenina is a fitting characterisation for all post-socialist EU newcomers.

Well before joining the EU, the former socialist countries declared it their intention to adopt the single currency soon after membership.1 This aspiration

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Turkey gets a second chance

After a near crisis in 2006, the central bank and its new governor are stocking to an inflation target of 4% for end-2007. Could this be the year Turkey finally convinces the world it has achieved sustainable non-inflationary growth? Justin Keay reports

How the euro gives Britain a free ride

New research suggests Britain and other European countries that have not adopted the euro have nevertheless benefited from it nearly as much as insiders, without giving up policy autonomy

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