Notes On The Telecommunications Single Market

1615 WordsAug 1, 20147 Pages
Chapter 2 – The Telecommunications Single Market 2.1 Defining a single market A single market is a type of economic integration. However, to which degree it can be called “single market”. The economic integration can be divided into five major types. 1. A Free Trade Area (FTA) - a group of countries which remove all barriers to trade in goods. 2. A Custom Union (CU) - a free trade area with a common external tariff. 3. A Common Market (CM) - a custom union plus free movement of capital and labour. 4. An Economic Union (EU) - a common market with harmonization of economic and social policies to ensure effective free movement and harmonization of macroeconomic policies to ensure that they do no distort trade flows. 5. Economic and Monetary Union (EMU) – an economic union plus a common monetary policy. A single market may be categorized into one of these, however, to define it precisely, it need to be explore historically to the real use of this word. The word “single market” was used officially for the first time in the White Paper on the Internal Market of 1985 as a replaceable word for “common market” and “internal market” . The word “common market” can be traced back to the Treaty of Rome. In 1957, the treaty established the European Economic Community (EEC). In addition, the common market was founded with the basis of four freedoms of goods, services, capital and movement for persons. Due to the failure of creating a genuinely common market, in 1985, the Commission
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