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Planning for the Single European Market

In: A Guide to Insurance Management

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  • Stephen Diacon

Abstract

The Treaty of Rome effectively created a customs union. Between 1958 and 1968, the six founding members abolished all quota restrictions and duties or tariffs on their internal trade. At the same time they adopted a common external tariff for their imports from other countries. Six other countries, including the United Kingdom, joined the European Community (EC) in the subsequent twenty years. However the abolition of customs duties did not create a single market: there were still considerable barriers to the movement of people, business and capital between the member states of the Community. Those non-tariff barriers, resulting from the fragmentation of the EC market, imposed considerable penalties and costs on its residents.

Suggested Citation

  • Stephen Diacon, 1990. "Planning for the Single European Market," Palgrave Macmillan Books, in: Stephen Diacon (ed.), A Guide to Insurance Management, chapter 3, pages 35-58, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-07495-2_3
    DOI: 10.1007/978-1-349-07495-2_3
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