ABSTRACT

When officials of the European Community (EC) drew up the provisions of the Single European Act in 1985, setting in motion the move toward a fully integrated market by the end of 1992, they ignited a quiet revolution. While it may not be completely realized by the end of 1992, a unified economic market without internal borders is assured, and the member countries of the EC are now envisioning the possibility of a single European currency, a central bank, and a political union.