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Economic Studies Series

On balance, the effects of the accession to the European Union of ten new member countries, mainly in Central and Eastern Europe, are not favourable for the Spanish economy.

Unlike the previous enlargement, which saw the entry of Austria, Finland and Sweden, this one will bring with it major political, institutional and economic consequences, all the more far-reaching given the elevated number of new member countries and their special economic circumstances. The consequences of enlargement will, moreover, take different forms in each country. It is natural, therefore, to ask what the impact will be on the Spanish economy.

The authors, recognised specialists in European affairs, provide a clear response to this question, dedicating particular attention to the most relevant aspects: structural funds, trade, direct investment, migratory movements and macroeconomic balances. They also propose various approaches to reducing risks and taking advantage of opportunities.