How The Single European Market

In order to understand the evolvement of the Single Market of the European Union, one has to take the general background into consideration. Therefore, it is important to have a look at the Treaty on European Union (Maastricht Treaty) which gave birth to the creation of the Single Market. Having been the Common Market before the Maastricht treaty, the European Economic Community (EEC) Treaty already clarified the objective of cooperation between member states. Throughout the Single Market, those objectives should be transformed into reality.

The Internal Market of the European Union (EU) is one of Europe’s significant achievements and its greatest resource in times of modern globalisation. Since its creation in 1993, the Internal Market has opened itself more to competition, created jobs and reduced many trade barriers. It is the principal instrument for building a stronger and fairer economy in the EU. It assures the free movement of people, services, goods and capital, and by doing so, creates fresh opportunities for businesses and consumers. The Treaty on the Functioning of the European Union adopts measures with the aim of combining national markets in a single market with the characteristics of a domestic market. The vision is that it should be as easy to trade between London and Madrid as it is between London and Manchester.

(2) European nations began to form economic organizations (e.g. OEEC, EFTA, EEC) to promote economic co-operation & growth.

This estimate is in numbers impossible to establish, but an example can serve evaluation a committee under the leadership of MP Chekini4 That evaluates the potential economic benefits of a single market and currency at least 200 billion. Ekyu5 . Future benefits from free market, single currency and generally creation of the European Union are the following directions: - Savings resulting from the elimination of administrative barriers and customs controls at borders; - Economies of the full opening of the

The roots of the European Union can be traced back to the early 1950’s when a small number of countries made a decision to join together as a way to resolve any potential conflict nurture economic growth and common values across the continent. There was a desire to promote common values and membership was opened to all European countries. Since the inception the number of members has grown from a founding six countries to what we now know as the modern day EU with a current total of 28 countries with a further 8 countries under application review. In 1992, what was then a group of twelve countries, joined together to form the Customs Community Code which was eventually introduced in January 1993. The code effectively merged the individual customs regulations in to a single customs union.

As the world already knows, ‘Single Market’ is greatly known for European Union’s biggest achievement and

One of the aims of setting up the Eurozone common market was to all for

The internal market is a large trading unit with no internal barriers to trade. The creation of the internal market is one of the central purposes of the European Union. Article 26(2) of the Treaty of Functioning of the European Union (TFEU) stated that “internal market shall comprise an area without internal frontiers in which the free movement of goods, persons, services and capital is ensured in accordance with the provisions of the Treaties”. Under Article 26 of TFEU, four freedoms identified which are the free movement of persons, free movement of services, free movement of goods and free movement of capital. In our hypothetical situation, we will only be looking at free movement of persons and free movement of

The idea of common market (or internal) is one of the centrepieces of modern liberal political thought which aims to promote economic and social progress through the creation of an area without internal frontiers and through the establishment of economic and monetary union. In this area, the free movement of goods, persons, services and capital must be ensured in accordance with the provisions of the Treaty. These four ‘freedoms’ are the vital elements of the internal market and through the years have been a subject of considerable legal reinforcement. However in order to achieve the four ‘freedoms’, two main integrations were considered. Positive integration which aims on the

One of the main objectives of the European Union (EU) is the establishment of the internal market, which shall consist of “area without internal frontiers in which the free movement of goods, persons, services and capital is ensured. The internal market is based upon a customs union achieved through the abolition of the imposition of customs duties and charges having an equivalent effect and the prohibition of discriminatory taxes on intra-EU imports. The internal market is enhanced by the provisions on free movement of workers, freedom of establishment, free movement of services, and free movement of capital. Whereas Articles 28 to 30 of the Treaty on the Functioning of the European Union (TFEU) provide for the establishment of an EU common external tariff and the elimination of customs duties, Articles 34 and 35 of the TFEU (with exceptions under Article 36) go further, and prohibit quantitative restrictions and measures having equivalent effect. Taken together, Articles 28 to 32 and 34 to 36 serve to ensure the free movement of goods within the EU and to facilitate the operation of the internal market.

Business can sell their products and offer services all over the Europe. This allows companies to have access to the market that is almost 50 times bigger than individual nation’s market

The idea of common market (or internal) is one of the centrepieces of modern liberal political thought which aims to promote economic and social progress through the creation of an area without internal frontiers and through the establishment of economic and monetary union. In this area, the free movement of goods, persons, services and capital must be ensured in accordance with the provisions of the Treaty. These four ‘freedoms’ are the vital elements of the internal market and through the years have been a subject of considerable legal reinforcement. However in order to achieve the four ‘freedoms’, two main integrations were considered. Positive integration which aims on the harmonisation

The Single European Market (SEM) came into force through the single European Act Signed in July 1987. It began in 1957 when the Treaty established the European Economic Community (ECC). This treaty stated that the six founding members (Belgium, France, Germany, Italy, Luxemburg and the Netherlands) were to abolish customs barriers within the community and create a common customs tariff (Customs Union) that will be applied to goods from non-EEC countries. This was successful and was achieved on 1, July 1968.

The European Union was created to strengthen the economy of the continent and to provide a better quality life to the general population of Europe. Also, uniting countries provided combat and military advantages through power in numbers. The single European Act was signed in 1987 with the aim of eventually creating a “single market” for trade. This policy allowed for easier trade, more citizen interaction on issues such as the environment and security, and easier travel through the different countries. This time was generally recognized as the period when the modern EU arose due to the

With the effect of the Single European Act on 1st July 1987, the emergence of European Union (EU) as a common market has essentially been created. The benefits of this act are substantial to European firms, economies, and workers. It eliminates conflicting national regulations and trade barriers, as well as offering firms opportunity to sell their goods to all other EU members (Griffin & Pustay 2005).