ABSTRACT
The initial SEM programme, covering the years 1985-92, was limited (if not minimalist) in the efforts it made towards the realisation of its stated objective. Much of the programme was about catching up with lapsed priorities espoused within the founding treaties of the EC. Indeed, the Commission always marketed its Single Market initiative as merely the first phase of moves towards the establishment of an SEM. A true SEM will only exist when all goods, services and factors of production that can be traded
This means that the creation of the SEM extends beyond the priorities outlined within the initial programme and will need to be adjusted as internationalisation creeps into more and more product, service and factor markets.
