The Single European Act prevented a trend toward increased globalization in the banking industry.

Question

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The Single European Act, which came into effect in 1987, aimed to create a single market in Europe and remove barriers to trade within the European Community. It actually facilitated the trend toward increased globalization in the banking industry by allowing banks to operate across borders within the EU and to offer a wider range of services to customers.

The Single European Act Prevented a Trend Toward Increased Globalization