The Creation of the European Economic Area: October 25, 1991
1991 · Brussels, Belgium
The European Community and the European Free Trade Association reach an agreement to create the European Economic Area.
April 11, 1987
The London Agreement was signed, attempting to resolve disputes regarding the implementation of Single European Act of 1986.
London, UK | European Community
On November 4, 1987, the London Agreement was signed as an effort to resolve disputes surrounding the implementation of the Single European Act (SEA), which had been agreed upon in 1986. This agreement was critical in the progressive deepening of the European Economic Community (EEC), aiming to lay the groundwork for a more unified and efficient internal market within Europe.
The Single European Act was the first major revision of the 1957 Treaty of Rome, establishing the EEC. It aimed to set a clear path toward a single market by the end of 1992, ensuring the free movement of goods, capital, services, and people within the member states. The SEA also sought to improve institutional mechanisms to enable more effective decision-making at the European level.
Despite its ambitious goals, the implementation of the SEA faced numerous challenges. Various member states had differing interests and priorities, leading to disputes over the pace and nature of the integration process. Key issues included harmonizing regulations, competition policy, and the scope of legislative power granted to European institutions.
The London Agreement emerged as a diplomatic effort to address these disputes, facilitating more effective cooperation among member states. The agreement aimed to clarify contentious points about the SEA’s implementation, particularly focusing on areas that required closer synchronization of national policies with community-wide objectives.
Some of the agreement’s direct outcomes included:
The London Agreement played a significant role in mitigating immediate conflicts that threatened the effectiveness of the SEA. By addressing specific implementation issues, it helped maintain momentum toward achieving a truly single European market, which would become a cornerstone in the development of the European Union. It exemplifies the ongoing need for dialogue and compromise in the European integration process, highlighting the collaborative efforts necessary to achieve long-term cohesion and unity among diverse member states.
Source: eur-lex.europa.eu