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Dismantling the barriers: it's later than we think

Article Abstract:

The twelve members of the European Community are in the process of abolishing trade barriers between the countries to create a single internal market by 1992. The details of the process were outlined in a European Commission White Paper published in 1985, and in a directive called the Single European Act (SEA) which has been ratified by all the member governments. Both the European Council and the European Parliament will adopt majority rule voting by 1992, which may mean that individual governments may lose some power within their own borders. The UK's House of Lords Select Committee on the European Communities warned in its 12th report of five ways in which British ministers may have their power limited: they will have no control over European Parliament interventions; they may be out-voted more frequently; implementation of some council policy decisions will be delegated to the European Commission; they will not have the chance to negotiate to influence the Commission's proposals; and decisions of the Council will be subject to amendment by the European Parliament.

Author: Bailey, Richard
Publisher: Institute of Chartered Accountants in England & Wales
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1988

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New beginning for the Common Market

Article Abstract:

It has been estimated that the European Community (EC) plan to abolish all trade barriers between member nations by 1992 will result in a 5% rise in gross product, a four billion pound sterling saving for the telecommunications industry, and a 1.1 billion pound sterling saving for the construction industry. There are many problems which have yet to be solved concerning the move, such as how the European Free Trade Association (EFTA, comprising Austria, Switzerland, Sweden, Norway, Finland, and Iceland) will be affected. The EFTA countries are concerned that the EC may become more protectionist after 1992. Other matters which need to be resolved include: how freedom of financial transactions between non-member countries will be handled; how international mergers and takeovers will be decided; and how to plan for the positive and negative economic effects on different regions of member nations.

Author: Bailey, Richard
Publisher: Institute of Chartered Accountants in England & Wales
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1988

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Political partnership of vital importance

Article Abstract:

Implementation of the Single European Act (SEA) by the European Community (EC), which will create a single internal market by 1992, will involve a significant increase in policy coordination than has occurred in the past. Contacts between the UK Parliament and the European Parliament will need to be much closer. It will also be important to lobby the European Parliament, the Economic and Social Committee, and the Committee of Permanent Representatives concerning legislation before it is finalized. Most of the 300 proposals in the SEA will affect long-term national practices, such as lowering the price of alcohol in the UK while raising it in France and Germany. Concern among members of the General Agreement on Tariffs and Trade will result in new bargaining with the EC. The US role in NATO and Western Europe will also need to be discussed.

Author: Bailey, Richard
Publisher: Institute of Chartered Accountants in England & Wales
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1988

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Subjects list: Economic aspects, Laws, regulations and rules, European Union, Single European market, Europe, Western, Planning, Free trade
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