This book studies the macroeconomic and structural adjustment burdens for new Eastern European member countries of the European Union. The widespread belief that an Eastern enlargement of the EU would be overwhelmingly to the detriment of current members is rejected. The book consists of a wide range of theoretical approaches - from rather supply-side-oriented to more demand-side ones - to offer a range of perspectives on how enlargement could affect the transition economies and the European Union as a whole.