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The Single European Act (SEA) was the first major revision of the 1957 Treaty of Rome. The Act set the European Community an objective of establishing a single market by 31 December 1992, and a forerunner of the European Union 's Common Foreign and Security Policy (CFSP) it helped codify European Political Co-operation .
In a single document it dealt with reform of institutions, extension of powers, foreign policy cooperation and the single market. It came into force on 1 July 1987. [2] The act was influenced by work on what would be the Maastricht Treaty, the Treaty establishing the European Union. There had previously been plans to create a more integrated ...
With the prospect of further enlargement, and a desire to increase areas of co-operation, the Single European Act was signed by the foreign ministers on 17 and 28 February 1986 in Luxembourg and The Hague respectively. In a single document it dealt with reform of institutions, extension of powers, foreign policy cooperation and the single market.
Over the course of the early 1970s, the European Investment Bank loaned millions of units of account – a pre-Euro European system of monetary exchange without preference to a single currency – to Portugal, with the objective of "giving its fullest support to Portugal's efforts to strengthen democracy and promote social and economic progress ...
The potential benefits of becoming a member of the EU act as an incentive for both political and economic reform in states wishing to fulfil the EU's accession criteria, and are considered a major factor contributing to the reform and stabilisation of former Communist countries in Eastern Europe. [24]
1986 – Single European Act; Accession of Portugal and Spain; flag adopted; 1989 – The fall of the Iron Curtain in Eastern Europe; 1992 – Maastricht Treaty formally called the Treaty on European Union - The European Union is born and Euro was introduced as the fellow currency (Denmark and the UK are not included in the EMU (European ...
The European Communities (Amendment) Act 1986 (c. 58) is an Act of the Parliament of the United Kingdom which saw the first major amendment to the European Communities Act 1972 since the UK first joined the European Communities some thirteen years earlier to include the provisions that was agreed in the Single European Act which was signed on 17 and 28 February 1986 and be incorporated into ...
The European single market, also known as the European internal market or the European common market, is the single market comprising mainly the 27 member states of the European Union (EU). With certain exceptions, it also comprises Iceland , Liechtenstein , Norway (through the Agreement on the European Economic Area ), and Switzerland (through ...