European Union Exam
ERM gives national currencies a
central exchange rate against the Ecu. All the community’s members apart
from the UK join the ERM.
1975
Launch of European Monetary System
June 1979 – First election of the EP
1981
January: Greece becomes 10th member of the European Community.
1984
February: draft Treaty on the establishment of the European Union passed
by the European Parliament.
1985
European Council in Luxembourg agrees to amend the Treaty of Rome and
to revitalise integration by drawing up a Single European Act – bigger EU
Schengen Agreement
1986
1 January: Spain and Portugal join the Community.
February: Single European Act signed, aiming to create a Single Market by
1992, and reforming the legislative process to speed this up
– More powers to the European Parliament (Cooperation procedure)
– Qualified majority extended in the Council
– Establishment of European Council
– More implementation powers to the Commission
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