Main Economic Policy Areas of the EC: After 1992 is a completely rewritten version of past editions. It examines successes and problems associated with the EC's main economic policy areas and makes proposals for the future. For the first time, a chapter on the very important policy area of transport is included. This volume is an indispensable course book and handbook for all individuals interested in the European Community's main policy areas at the beginning of the coming into effect of the Single European Market.

At the end of 1992, things will never again be the same inside the European Economic Community (EEC), because, as that year draws to a close, the aims of the Single Act of European Union (SAEU), which became law in July, this year, will have become effective - thus creating a 'real' Common Market. This will mean that there will no longer be any obstacles to the free movement of goods between the Member States. Equally, and for the first time in the EEC's history, internal capital movements will be absolutely free, there will no longer be any exchange controls and it will be possible to freely establish financial services between EEC countries. Likewise, as currently being proposed by Lord Cockfield, wide variations in the levels of value added tax (VAT) between Member States will not be allowed. Also, in the case ~f the Common Agricultural Policy (CAP), it will no longer be possible (nor even necessary) to have the monetary compensatory amounts (MCA's). All these changes - but especially the increased freedom in capital movements - will have profound consequences for the different regions of the Community and it will be desirable to have a much more dynamic Regional Policy before 1993. Last, but by no means least, a greater number of decisions inside the Community will be made by majority voting and the Parliament will be endowed with enhanced powers.

PETER COFFEY Since the appearance of the second edition of this work - which was so quickly out of print - so much has happened in Europe. In the EEC itself, 1989 was a watershed year concerning the Community's moves towards the creation of the Single European Market (SEM) by the end of 1992. Early in the year, the appear ance of the De10rs Report on Economic and Monetary Union in the European Community, was followed by an agreement, at the European Summit, in June, to begin the first stage of this union in the Summer of 1990. As a counterpart to this and other agree ments, seen by trade unions and similar groups as an agreement * New composition of the ECU as on 21 st September 1989. Deutsche Mark DEM : 30.10% French Franc FRF : 19.00% Pound Sterling GBP : 13.00% Italian Lira ITL : 10.15% Dutch Guilder NLG 9.40% 7.90% Belgian Franc BFR 2.45% Danish Kronor DKK 1.10% Irish Pund IEP 0.80% Greek Drachma GRD 5.30% Spanish Peseta ESP 0.80% Portuguese Escudo PTE IX x between governments and businesses, there followed calls for and the adoption by eleven Heads of State of a Social Charter.

Covers trends from 1957 to 1995.

Many changes have occurred in Europe in the last few years, with more developments arising in light of the impending unification of the European economic market. This volume scrutinizes the process of economic integration in Western Europe and its gradual emergence as a new regional entity. Tsoukalis identifies some distinguishing features of this economy as well as the outstanding issues as European unification approaches. Strongly oriented toward policy, the book contributes to the debate about the nature and future of European economic development, without neglecting the wider political ramifications of the issues.