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Single European Act
(redirected from European single market)

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Single European Act

Act signed in 1986 (and in force from July 1987) to establish a single European market, defined as an area without frontiers in which free movement of goods, services, people, and capital is ensured.

The act was the first major revision of the Treaties of Rome. It provided for greater involvement of the European Parliament in the decision-making process, and the introduction of qualified majority voting in the Council of Ministers (now the Council of the European Union) for some policy areas. In addition, it included provisions concerning collaboration in research and development and in environmental policy.



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The OECD also called longer-term for eurozone governments to start reducing their deficits and implementing policies to make the European single market more efficient in order to boost economic growth.
The precise nature of the upgrade had yet to be determined, but the EU was holding out the prospect of a regular political dialogue, Israeli participation in EU programmes and agencies and closer integration into the European single market for goods and services.
In his speech today Brown will seek to focus on the economic advantages of Europe, saying that the European single market gives British businesses access to a market of 500 million people, to cheaper products and services, and to a much wider potential workforce, with a greater range of talents and skills.
 
 
 
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