Capital Access Index, Winter 1998: Converging and Diverging European Markets
Nov 01, 1998

Europe is poised to introduce its new monetary unit, the "euro," in January 1999.

On the brink of this financial transition, the Milken Institute looks at 15 European countries (11 "core" economies and four "peripheral" economies). Nine of the 15 are members of Euroland. The Institute judges each country's level of financial openness to entrepreneurial (as opposed to statist) capitalism, and hence each's ability to benefit from the introduction of a European-wide currency.