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Concepts
The Single Market
All of the EU and EEA
Inside: Free movement of
o Goods, services, capital and workers (4 freedoms
Outside: no free movement inwards
o Common Customs Tariff (barrier)
Applies to all EU members states. Fairs differ depending on
the product and its origin (on the economic sensitivity)
4 factors of production (used in production to produce output)
o Land, labour, capital and (entrepreneurship)
o The bigger the market the more efficient the system (economies of
scale)
o Theory of Gains from trade!
Non-tariff barriers are also prohibited in the Single market
o Every government can have different
Non-standard standarsd
Licensing requirements
Scope of IP rights
Direct or indirect State aid?
o Private companies have different
Market sharing agreements
IP (e.g. trademark) agreements
Free movement of workers
“Worker” – anyone working or actively looking for work (+ their
immediate family)
o EU/EEA citizens only (with exception)
Graph
Legislation
Must be made using a power in the Treaty
o Treaty on the Functioning of the EU (TFEU)
European institutions and comparative international systems - 2
Enhanced co-operation
Eu treaties allow groups of members states to go further than Single
Market rules
o Musnt endanger sinlge market for others
Euro Area
o Single Currency since 1999
o Supervised by ECB in Frankfurt
Schengen agreement
o Single area of free movement of persons
o Schengen visas – may be for restricted purpose or time
o Emergency powers