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11. European Political Considerations on Operations Beyond Europe

Author:
Klaus Becher
Publication Date:
07-1999
Content Type:
Working Paper
Institution:
The Geneva Centre for Security Policy
Abstract:
The nations of the European Union represent not only one of the two most important economic actors in the world, but also include some countries of world-wide political importance. Half of the G-8 membership is from the EU, as are two permanent members of the UN Security Council. The responsibilities and obligations that, historically, European powers accumulated in all continents still have many remnants. The two big European wars of the 20th century were also fought in Africa, the Middle East, and parts of Asia. Europe, while enjoying the benefits of a large, expanding internal market, depends for its prosperity on a secure and functioning global order.
Topic:
Security, Defense Policy, and NATO
Political Geography:
Europe, Middle East, Lebanon, Iceland, Nagasaki, and Taipei

12. Economic Survey of Iceland, 1999

Publication Date:
12-1999
Content Type:
Policy Brief
Institution:
The Organisation for Economic Co-operation and Development
Abstract:
The Icelandic economy has expanded rapidly over the past five years, bringing output to well above its potential. Clear signs of overheating have emerged, with unemployment below 2 per cent, inflation picking up and a large current external deficit. These developments are projected to continue, raising the risks of a wage-price spiral and financial instability. To guard against such risks, a significant tightening of monetary policy is required, with less priority attached to the exchange rate as a target for policy. This should be complemented by a medium-term fiscal discipline aiming at achieving a structural budget surplus. Such a course would help cope with long-term care spending that will rise with ageing. On the other hand, except for government employees, pensions should not constitute a burden for public finances, as, for the main, they will be provided by the private sector. To enhance future growth prospects, it will be important to maintain and extend the fishing quota regime in the face of legal threats and to increase competitive forces, especially in the telecommunications industry.
Topic:
Economics
Political Geography:
Europe and Iceland