Article Abstract:
Two studies examine the possible effects of the European single market in 1992. The European Commission's worst case forecast for macroeconomic outcomes is a 4.5% boost in gross domestic product, a 6% drop in consumer prices and a 1.8 million rise in employment. The more optimistic outcome is a 7% gain in GNP, a five million rise in employment, and only a 4.5% decline in prices. A Phillips and Drew study concentrated on individual industries and companies that would gain or lose from the 1992 Free Trade Agreement. Airlines, advertising agencies, consumer medicines, leisure, road transport, and food industries are expected to benefit from the decision. Losses will probably be suffered by the information sciences and chemical industries.
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Article Abstract:
The internationalization of business and the approach of the European Free Trade agreement in 1992 are having major affects on international advertising and marketing in Europe. Some companies are moving into more detailed local marketing in order to take advantages of the differences in European consumers, while others are planning to use the same advertisements throughout Europe. Major European advertising agencies are beginning to consolidate in order to control more of the market, but governments are responding by setting limits on media ownership and content.
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Article Abstract:
Asea-Brown Boveri, created in a 1987 merger, is the world's largest electrical engineering company. There may be far-reaching implications for Europe's economic competitiveness with the US and Japan. Several equally ambitious European mergers failed in recent years, but the Asea-Brown Boveri merger had several factors in its favor. The economic climate of Europe is now more hospitable to mergers. Asea-Brown Boveri is headed by Percy Barnevik, who rebuilt Asea in the early 1980s, and he is regarded as one of the most capable business executives in Europe.
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