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What Happened to 1992? It seems only yesterday that, as a result of EC legislation, we were being exhorted to think ahead and make all the changes necessary before 1992. At first, the message was softened a little by reference to the actual end‐of‐year dates. But now that the deadline has passed, there is an air of anticlimax, as loopholes are inserted in the legislation and timescales allowed to slip. Certainly the situation has not been helped by the European‐wide woes of economic recession and the focus on basic business survival.

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