The EC has embarked on an ambitious program to fully integrate its diverse national economies by removing all barriers to the movement of goods, services, capital, and people by the end of 1992. If the program is successful, the short-term practical implications for agriculture are most pronounced for the EC's food and agribusiness sector with indirect effects on farming. The long-term implications of Europe 1992 for EC agriculture are profound as true common prices in a borderless EC-12 would lead to specialization in agriculture at the expense of the current degree of nationalization.