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The European single market, also known as the European internal market or the European common market, is the single market comprising mainly the 27 member states of the European Union (EU). With certain exceptions, it also comprises Iceland , Liechtenstein , Norway (through the Agreement on the European Economic Area ), and Switzerland (through ...
The Single European Act (SEA) was the first major revision of the 1957 Treaty of Rome. The Act set the European Community an objective of establishing a single market by 31 December 1992, and a forerunner of the European Union's Common Foreign and Security Policy (CFSP) it helped codify European Political Co-operation.
A single market, sometimes called common market or internal market, is a type of trade bloc in which most trade barriers have been removed (for goods) with some common policies on product regulation, and freedom of movement of the factors of production (capital and labour) and of enterprise and services.
The European Economic Community (EEC) was a regional organisation created by the Treaty of Rome of 1957, [note 1] aiming to foster economic integration among its member states. It was subsequently renamed the European Community (EC) upon becoming integrated into the first pillar of the newly formed European Union (EU) in 1993.
The EU as a region has produced the world's second-highest number of Nobel laureates in the economics field. [36] The European Union economy consists of an internal market of mixed economies based on free market and advanced social models. For instance, it includes an internal single market with free movement of goods, services, capital, and ...
The European Economic Area (EEA) was established via the Agreement on the European Economic Area, [4] an international agreement which enables the extension of the European Union's single market to member states of the European Free Trade Association (EFTA). [5]
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In 1999 was created the financial services action plan, first step in creating a single market for capital, and in 2011 the European Supervisory Authority, in order to insure the European financial markets stability. Only four years later, is the CMU project presented by Jean-Claude Juncker.