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  • Introduction by the Deutsche Bundesbank
  • Euro By Markus Heidinger of Wolf Theiss & Partners, Vienna
  • The upturn in growth that started in 1997 accelerated in 1998. Annual average GDP growth stood at 3.2%, after 2.3% in 1997 and 1.6% in 1996.
  • Market Overview By Tom Schubert and Christian Stahlberg of Roschier Holmberg & Waselius, Helsinki
  • By Katarzyna Chodyla, Wierzbowski & Co., Warsaw
  • Banking By Velupillai Murugesu and Kandiah Neelakandan of Murugesu & Neelakandan, Colombo
  • The US Accountancy Board, the FASB, has brought an end to the pooling of interests for the accounting treatment of mergers and acquisitions in the US. David Bernstein of Rogers & Wells, New York reviews the effect of the decision and questions the wisdom of amortizing goodwill on M&A deals
  • Wal-Mart, the world’s largest retailer, has bid £6.7 billion ($10.8 billion) in cash for UK supermarket chain Asda.
  • At the start of May, the Commission adopted a communication setting out a series of initiatives designed to enable supplementary pension schemes to benefit from the single market and the euro.
  • Commerzbank is the first big European bank to set up an asset management group in Italy under new rules adopted in 1998. Gianluca Santilli and Andrea Marino of Santilli e Associati are advising the bank and describe the structure