As time goes by … Mixed showing after five years of EU eastern enlargement

On 1 May 2004 the European Union was enlarged by ten new Member States. Their political and economic integration brought growth in trade, economic output and employment – but also in economic connectivity and mutual interdependence. As a result, the global economic and financial crisis has triggered serious economic slumps in some of the new EU members. It is now time to take initial stock of integration and turn to consideration of the outstanding issues.