Single Market

When the 12 member states committed themselves to economic and monetary union in the 1992 Treaty of Maastricht, it was partly because monetary union had long been a declared objective of the Community, at least as far back as the early 1970s. But it was mainly because the governments were persuaded that monetary union was a direct and necessary consequence of their new commitment to a single market, encapsulated in the 1986 Single European Act, which was in the process of implementation. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.