Europe 1992

In 1985 the 12 members of the european economic community embarked on an ambitious path to more fully integrate their economies by Dec. 31, 1992. The slogan “EC-92” quickly became a rallying cry for member nations that were struggling with slow economic growth and declining competitiveness. In the past six years, the EC has made great progress in removing obstacles to internal trade and it looks like the community will accomplish most of its goals by the deadline. But new developments are threatening the process of European integration. The nations of Eastern and Central Europe have broken free from decades of Soviet domination and they have joined other non-member European countries in seeking closer ties with the European Community. These developments also pose new challenges to U.S. interests in Europe.