And the creation of a Single European Market. The programme involved the abolition of

Exchange controls, the recognition of qualifications, the abolition of restrictions on internal transport,

Liberalization of the market in air services, public procurement tendering, life insurance

And banking services, and the abolition of frontier controls (Schengen Treaty). The Act also

Widened the application of qualified majority decision-making in the EU. The Commission

Monitors competition to ensure that no enterprise acts in such a way as to restrict the free movement

Of goods and services in the EU or to exploit a dominant market position. A number of

Areas, such as taxation, still required a unanimous decision from member states for any policy

Changes to be made. With the signing of the Maastricht Treaty, providing for European Monetary

Union, and extending coordination in the area of employment conditions (Social Charter),

The Union emerged in the form it holds today. A programme for the establishment of a full economic

And monetary union, including the setting-up of a European Central Bank and the replacement

Of individual national currencies with a single European currency in all transactions

Throughout the EU and the coordination of employment conditions (Social Charter), was agreed