The College of Europe in Bruges has a long standing tradition in the organization of important conferences on key questions of the development of European integration. The results of the Conference on «Europe and Global Economic Interdependence» introduce a new collection called «The Bruges Conferences». The completion of the European internal market, the transition to an economic and monetary union, the conclusion of new EC-EFTA agreements, the search for a new political and economic order in Central and Eastern Europe and the negotiations of the Uruguay Round are the main issues on the political agenda in the early 1990s. The European Community faces major challenges in an environment which is undergoing rapid transformation. This is certainly true in the fields of trade, finance and money in which Europe's interests and responsibilities as a regional and global economic power will need to be reconciled. This will require some difficult and occasionally painful decisions.