Second, member states also had to dismantle quantitative restrictions (or quotas) on goods sold to each other. They had to discontinue the imposition of measures which resembled quantitative restrictions. One case was that of West Germany which had a law which banned the sale of liqueurs of low alcohol content. French Cassis de Dijon, manufactured from blackcurrants, failed to meet the standard and imports into Germany were banned. The effect of this rule was equivalent to the imposition of a zero import quota. These measures, designed to create internal free trade in goods, were complemented by a requirement to progressively abolish restrictions on the freedom to supply services across frontiers such as banking, insurance and
The European governments had to remove all forms of tariffs and measures equivalent to quotas. Restrictions on the freedom to supply services are lifted. However, the Non-Tariff Barriers (NTBs)still since the Rome Treaty provided the Community institutions with powers to control the NTBs.
The SEM had a common currency. The euro, which was introduced in 2002, is the single European currency which had replaced the national currencies of the 27 member countries of the European Union (euroland) that began on 1 January 1999. The exchange rates of the euroland countries were fixed to the euro. While marking a milestone in the European Union's economic integration process, the launch of the euro has significance beyond Europe. Some economists and financial experts believe the euro could become a major international currency that can pose a threat to the US dollar.
EUCP = EU Competition Policy
The European Competition Policy applies rules to make sure that companies compete with each other and, in order to sell their products, innovate and offer good prices to European consumers. The economic core of the EEC called for the free movement of goods, capital, services, and people among its original members.
For instance, Article 81 of the Maastricht Treaty, which helped establish the EU, refers explicitly to the prohibition of practices which "limit or control production, markets, technical development, or investment."
To implement EU's competition policy, there are designated competition commissioners. All 27 national competition authorities in the EU are able to apply EU rules at their local level in consultation with the Competition Commission.
Europe has vibrant competitive markets which have winners, picked by consumers, from level playing field. These corporate winners create new dynamics such as venture capital networks. These companies are EADS, Total-Final-Elf, BNP Paribas, Suez, Vivendi Universal, DaimlerChrysler, Vodafone or Sanofi-Aventis.
SPEU = Single Policy EU
n 1986, twelve member states of the European Communities of the Single European Act (SEA) ratified the Act broadly and gained two things. First, the Act modified the founding treaties which gave rise to the three European treatises such as the Paris treaty of 1951 which created the European Coal and Steel Community (ECSC), the Rome Treaty of 1957 which brought into being the European Atomic Energy Community (EURATOM) and the other Rome Treaty of 1957, which called into existence the European Economic Community (EEC). The SEA made possible these things. It granted new decision-making powers to the Council of Ministers and European Parliament, designed to facilitate the