We started work on this subject because of the impending (second) enlargement of the EEC. Among the basic motives for the southward extension of the Community — to Greece, Portugal and Spain — political perceptions predominate, as they did when the Community was founded. This is true in both the existing and prospective member countries. For the former, there is a political imperative to bring Greece, Portugal and Spain into the fold; in this way, the continent’s southern flank can be brought more fully under their influence, reducing political instability and strategic risks. For the latter, all of which have recently had repressive regimes, joining a democratic Europe has been perceived by their current governments as reinforcing democracy and strengthening forms of economic organisation in Western Europe.
KeywordsEuropean Monetary System European Regional Development Fund Income Aggregate Repressive Regime Strategic Risk
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