How The Single European Market - 1324 Words

1.0 Introduction In this report I will discuss why and how the Single European Market was set up, its failures and successes how it works and its recent changes. Today, The Single European Market (SEM) otherwise known as the (Internal Market) grants people and businesses with the privilege to trade and move openly across borders within the EU. This has had a huge impact on the world we live in today it altered the way European live, travel and work also to study and do business. The concept of setting up a European single market is to bring unity to the EU; this encounters money, goods, people, and services to collaborate freely to arouse competition and trade. 2.0 Findings Summary For the single market to function properly they†¦show more content†¦The European Economic grew bigger with up to 31 countries joining the ECA having limited rights for each country. The treaty had plans on building a common market in 1957 this came into reality in 1958 with the creation of a customs union along with the Single European Act (SEA) in 1957. ‘They declared in its preamble that signatory state was determined to lay the foundations of an ever closer union among the peoples of Europe’. This confirmed a political objective of a progressive political interrogation from the member of states. On February 1986 The SEA was signed the ninth member of the states along with Denmark, Greece and Italy this was the first huge remedy of the treaty establishing the (EEC), This was en3dorsed on July 1987. The SEA established the European council the Single Market that designates the conferences of the Heads of the States and government. Since the SEA economists have gradually improved the economic analysis of EU regulation, The European Union regulation is now routinely discussed in terms of incentives, asymmetries of information, multiple policy options, market based instruments and quantification of benefits and costs. 3.0 Successes The Single Market came into enforcement establishing the free-movement of service, goods, capital and people, these free movements allow companies to sell their products