By 2002, the euphoria that accompanied the greatest achievement to date of more than 50 years in the European integration - full monetary union - was fading fast. European politicians completed historically unprecedented monetary integration of 12 countries, and then they turned their attention to an equally difficult problem: the expansion of the European Union (EU). By the beginning of the 21st century, 13 countries have requested membership in the most exclusive club of rich, democratic, European states. With so many potential members knocking at the door, European politicians had to quickly decide whom to let in and under what conditions.
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by Ravi Abdelal, Kimberly A. Haddad Source: Harvard Business School 27 pages. Publication Date: December 12, 2002. Prod. #: 703021-HCB-ENG
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