“…As yet, this concern has not been justified by events. Misgivings about 'Europe 1992' seemed to be corroborated by a number of studies and reports which presented often conflicting findings (see, e.g., Alizadeh, 1993;Kreinin and Plummer, 1992;Pelkmans, 1990;Stoeckel, Pearce and Bank, 1990;Verbiest and Tang, 1991). 1 Apart from the creation of the European Single Market, which is a strictly intra-EU affair involving the removal of all remaining physical, technical and fiscal barriers to intra-EU trade between the twelve EU countries in 1992 (henceforth indicated by EU 12), two other developments on the European scene should cause more concern, i.e.…”