Report On The Single European Market

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KENSINGTON AND CHELSEA COLLEGE Report on the Single European Market Charlie Wall-Palmer REPORT ON THE SINGLE EUROPEAN MARKET To: Marilyn Naden From: Charlie Wall-Palmer Date: 15 December 2014 1.0 INTRODUCTION I have been asked to conduct a report for a seminar on the single market for businesses. I will be explaining the set-up of the Single European Market since the Single European act, the progress it has made, its successes, failures, recent changes and prospects for the future. 2.0 FINDINGS 2.1 The Single Market The EU has managed to establish a single market where in all member states people, goods, capital and services can interact freely to stimulate competition and trade whilst also improving efficiency.…show more content…
The essential needs for developing the Single Market were carried out through the concept of ‘the four freedoms’. • The free movement of goods: No barriers on the trade of goods and a ban on all tariffs/taxes on imports. Reduction of subsidies by national member governments. • The free movement of people: EU citizens can work in any other member state with no discrimination. All qualifications are also mutually recognised. • The free movement of services: Service industries can pick any member state to do their business in without actually being based in that country; this means that businesses are likely to re-locate to find the cheapest alternative. • The free movement of capital and payments: EU citizens cans open up bank accounts, buy shares /invest in other companies abroad and purchase property. Businesses can also invest in companies from different member states. You can see from this table, (see appendix.1) the different levels of economic integration the market has gone through from the Free trade area to the Eurozone we now see today. The progression can be seen from the different freedoms taking place to adapt the EU towards the original goal of a common market. 2.3 The Schengen Agreement (1985) The Schengen Agreement began the process of breaking down internal EU border controls, allowing citizens of Europe
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