In 1990, exchange controls within the European Economic Community were abolished, allowing for the free flow of capital. Although there were crises under the ERM—for example, the United Kingdom was ...
The legal basis for the European Semester process can be found in Articles 121 ... More recently, the Union’s reviewed economic governance framework, in force since 30 April 2024, introduced changes ...
It finds that the European growth model has been a powerful engine for economic convergence, helping developing countries in Europe catch up to their richer neighbors and become high-income economies.
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