Germany and the enlargement of the European Union

Abstract

Let me begin by expressing my thanks to the National Europe Centre for giving me the opportunity to share with you some reflections on the enlargement of the European Union as seen from Germany. I believe it is legitimate for Australian academics, business people and politicians to retain an awareness of the changing realities in Europe because they impact on Australia: - the EU has been the largest economic partner of Australia for the past 12 years - the two-way trade between the EU and Australia totalled 47.2 bn A$ in 2003, that is 19 % of all transactions of Australia - Euroland (12 EU countries with a single currency) is the second largest financial market after the US. 45 % of Australia's reserves are held in Euro. These are just a few figures to demonstrate to you the significance of EU-Australian relations.