Accession candidates are well-placed

The year ended on a positive note for emerging markets, which once again outperformed their developed counterparts in the final three months of 2002. The main theme of the quarter was undoubtedly in emerging Europe, as EU accession negotiations culminated in the successful conclusion of the Copenhagen Summit on 13 December 2002. As it stands, the first referendum for accession to the EU is for Hungary in April, with the Czech Republic and Poland potentially in June. The latest polls still show strong support for EU accession and we believe there is minimal risk of a negative surpri...