Where is the European community heading?

In recent years the process of integration within the EC has accelerated; concrete progress is being made and the prevailing spirit is that of optimism. A single European market by 1992 is expected to stimulate economic expansion and has already enhanced the position of the EC as an independent agent in international affairs. The enormous opportunities are coupled with challenges, such as the need to harmonize taxation and to introduce common security measures, while transforming the EC's institutions to better reflect the goals not only of economic integration, but also of political union. As the reform process unfolds in Eastern Europe the EC should help in overcoming the existing divisions and in bringing both parts of Europe together, including the reunification of Germany.