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An EC scorecard: some progress on the road to 1992.

AN EC SCORECARD: SOME PROGRESS ON THE ROAD TO 1992

Slowly but surely, the EC is making progress toward implementation of the 279 directives that form the basis for the 1992 unified European market. The three institutions charged with formulating the necessary legislation are the EC Commission, the Council of Ministers and the European Parliament.

The implementation process is complicated, but effective. First, the Commission, the executive body of the EC, drafts a directive and submits it to the Council. The Council considers it and also seeks the opinion of the Parliament. The Council returns the directive to the Commission with suggestions for revisions. The revised directive goes back to the Parliament for a second reading and then to the Council for a final vote. (For more information, see the sidebar to "Getting U.S. Companies Ready for Europe 1992" on page 60.)

Thus far, the Commission has submitted 261 proposals, leaving 18 due in 1990-91. One hundred and forty-two have been adopted by the Council and another 10 have been partially adopted, with 119 proposals awaiting Council action. The European Parliament has 51 proposals in hand for a first reading and another 6 for a second reading.
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Publication:Journal of Accountancy
Date:May 1, 1990
Words:198
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