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
Third, there is the free movement of people. Since the Schengen Agreement (1990), which was followed by the Schengen Convention, came into force in 1995, controls on people at the internal borders of the Schengen Zone were abolished in order to harmonise controls at the external frontiers and to introduce a common policy on visas and other accompanying measures like police and judicial cooperation. Additionally, the right for European citizens to move freely within the Schengen Area is determined in the Charter of Fundamental Rights. Originally, a right of free movement across the EU was only envisaged for the working population, as a single market could not be achieved while limitations to workforce mobility remained in existence. In Articles 39 to 42 of the EC Treaty, the right for EU workers to move freely is fixed again explicitly. This “special” kind of freedom should also include that any discrimination based on nationalities between workers of the Member States, regarding employment, remuneration and other conditions of work and employment, is abolished. To sum it up, people have the right to live and settle freely and companies are authorized to recruit people they need anywhere in the
The European Union (EU) is a unique economic and political partnership between 28 different countries. It consists of about half a billion citizens, and its combined economy represents about 20 percent of the world’s total economy (Briney, 2015). Today The European Union works as a single market, with free movement of people, goods and services from one country to another. There is a standard system of laws to be followed, and since 1999 many countries share a single currency called the Euro (Europa.eu, 2015). This essay will explore the background history of the European Union and the benefits and drawbacks of the European Union.
There have been various stages of economic growth between the countries of the European Union since 1958, when its history began. The pen-ultimate stage of its integration was a common or single market. Within a single market there a no tariffs between member countries and there are common external tariffs against countries outside the agreement. A single market is a strong form of integration involving the establishment of a common system of taxation, common laws relating to employment
Creating a single European market consensus of all EU policies. This is the main, whereby, if a company is allowed to do under the rules, a Member State of legislation something that the rules should therefore in the implementation of all EU Member States and the principles of a free trade area allowed. This reality can be different ways to view. EU member states must agree to the implementation of their policies could. The European single act of BP deal will mean more effective through the entire subsidy based on different Member States. For the command economies of scale allow them to accept a greater range, it will be cheaper.
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.
In considering the international realm, let’s consider the concept of economic treaties. Specifically, let's think about an organization like the European Union (EU). Why was it formed? In addition, what are some of the objectives of the nations that are joining the EU?
Some argue that the current degree of integration is an economic union with an evolving common political structure (but this is not entirely true given that all countries do not share a common fiscal policy). EU Objectives Provide for free internal flow of production factors: o Labour o Capital o Products Provide protection for European industry and workers (free trade within and protection outside countries) o Tariffs and quotas applied to most basic commodities and services Steel, Coal, Textiles, Agricultural Products Banking,
The European Union consists of 28 member states and has a population of 503 million inhabitants, and a total surface area of over 4 million square miles. The EU has its own currency, the Euro, and the largest single market in the world. It is a global community and power and has a huge influence on our world today in many aspects, and has been slowly built up to what it is today through humanistic ideology , common interests, new structures, treaties, economic policy and the attempt of equality throughout.
This is because the population of the A8 countries were allowed to move freely within the EU member states. This fear caused some of the older member states to place non-permanent demarcation on the rights of work of the citizens of these states to their countries. Despite this, the UK, Ireland and Sweden did not impose any restriction leading to immediate unrestricted access.
Movement between all of the countries in the EU is totally free and open for all citizens. This opens up numerous more job and education chances for people.
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.
European Union represents economic and political partnership of 28 states, with population more than 500 million people who can travel within its territory without considering internal borders. It operates as a single market with standardized laws and guaranteed freedom of movement of people, goods, services and capital. As such, European Union is attractive destination for all kind of immigrants, from people in search of a better life from unfortunate and unstable regions to highly qualified work force who are looking for greater business opportunities. As European Commission President Jose Manuel Barroso said in an interview for Time Magazine (Oct. 24,2007) “Europe is an
The Single European Act came into force in 1986, in which changed the Treaty of Rome, it also empowered and created awareness to integration by merging a large internal market.
The European Union (EU) was established in order to prevent the horrors of modern warfare, experienced by most of Europe during the World Wars of the 20th century, from ever ensuing again, by aiming to create an environment of trust with the countries of Europe cooperating in areas such as commerce, research and trade (Adams, 2001). The EU has evolved into an economic, trade, political and monetary alliance between twenty-eight European Member States. While not all Member States are in monetary union (i.e. share the currency of the euro), those that are form the ‘Euro-zone’ (Dinan, 2006). The EU can pass a number of types of legislation, with a regulation, act, or law, being the most powerful. Its ‘tricameral’ (European Union, 2007)
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).