POLS 3435 Chapter 10: The Evolution of the EU

• School: Northeastern University
• Department: Political Science
• Course: POLS 3435
• Professor: Mai'a Cross

Document Summary

By 1986 the eec became known as the european community. Had its own administrative structure and an independent body of law and its citizens had direct representation through the european parliament. Completion of the common market was handicapped by barrier to the free movement of people and capital, including different national technical, health and quality standards, and varying levels of indirect taxation. Could only be a single market with a common currency. December 1969 summit, community leaders discussed the principle of economic and monetary union and agreed to control fluctuations in the value of their currencies and to make more effort to coordinate national economic politics. European monetary system- designed to control fluctuations in exchange rates. There was a concern that progress towards the single market was being handicapped by inflation and unemployment. Goal of completing all requirements for the single market by 31 december 1992.