ABSTRACT. Through a simulation model, Rickard and Sumner show quantitatively how the removal of EU production subsidies would reduce EU production and exports, and raise prices in the global market. OECD claims that the EU economy is enjoying a strong cyclical rebound: employment has risen, and the decline in the EU's sustainable growth rate seems to have halted. Parker explains that the EC chose a trading system with limited coverage rather than a comprehensive system covering all sources and gases. According to Basile and Tenderich, we have entered a new era in which global economic growth is clearly impacting the global environment.