ABSTRACT
The Economic Community (EC)-1992 internal market program was initiated in 1985 with the publication of an EC Commission White Paper entitled, "Completing the internal market." The surge of momentum toward an EC internal market was clearly underestimated by most American observers of Europe. The replacement of twelve standards by one will ease the circulation of American products on the Community's market. American financial sectors are optimistic about the perspective of benefiting from new opportunities in areas such as banking, investment, and insurance. Establishment of EC level control over mergers and acquisitions involving large-scale multinational conglomerates is potentially of major importance for US businesses in the EC. Most American financial sectors support EC progress made on free circulation of capital, extension of the European Monetary System to more countries, and success in monetary coordination, less uncertainty on inflation and exchange rates.
