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Single Market Table of Contents Table of Contents 2 Overview of the European Union Single Market 3 European Union Institutions 6 Money and the European Union 6 6 Regional Policy of the European Union 7 Completing the Single Market 8 General Policy Framework 8 A Single Market for Goods 10 A Single Market for Services 11 A Single Market for Capital 12 Main Obstacles to the Completion of the Single Market 12 References 14 Overview of the European Union Single Market The European Union is an exclusive partnership on the basis of economy and politics in among 27 countries of Europe.
The single market can create free trade within the European Union and mould Europe into a single economy (Europa, n.d.). The European Union was formed after the Second World War to promote cooperation on economic grounds amongst the European countries. The idea was that the nations which do business with one another are reliant on each other economically and will consequently avoid clashes and disagreement amongst themselves. In the year 1951, six European nations viz. Belgium, France, Germany, Luxembourg, Italy and Netherlands signed an agreement to unite their industries in the coal and steel sector so that there would not be any difference between them in future. After six years, they made a deal of ‘Treaty of Rome’ by forming the European Economic Community (EEC) with the idea of forming a common single market, the community later came to be recognized as the European Union. ...
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