Joseph Stiglitz once said: “Information costs are no less real than production costs.”[11] This is why economic transparency is referred to as a key pillar of international competitiveness. In this respect, European DataWarehouse has made an important contribution to European competitiveness over the last ten years.
Some transitional provisions are likely to be necessary for new member states after joining the European Union. Without such provisions the expansion of the European Union may need to be postponed for many years, which is clearly undesirable. Moreover, in the past such provisions have also been applied to new entrants, including Spain, Portugal and Greece. It is essential to strike a proper balance.