BIS Review 63/2007  3  Second, regarding SMEs, the report indicates that several of the differences in the financial position of firms according to size which had been identified in previous studies are driven mainly by the relative weights of SMEs and large firms in the various sectors, and also to some extent by the relative weights of SMEs in the various countries.
The progress of the talks is encouraging, and many applicant countries have made striking efforts to get their economies in shape for membership in the EU. With regards to the monetary aspects of integration, at present a three-step procedure is envisaged: In a first step, the country becomes a new member of the European Union and adopts the body of community law.