After ratification by member countries, the "Luxembourg reform package" worked out by the European Council at the end of 1985 is to provide the basis for the development of the European Community into the nineties. What are the challenges facing the EC? What opportunities do the Luxembourg...

The first step towards reform of the EC was taken when the Single European Act came into force in July of this year. What concrete decisions must the member states now take? What are their chances of being implemented?

In recent years significant progress has been made towards European monetary integration. Widespread agreement as to the role of monetary policy has been established and there were no realignments of exchange rates within the European Monetary System between March 1983 and July 1985. This was...