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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.
For example, single market helps European Union to achieve annual growth of GDP with 2.2% p.a. between 1992 and 2006, rise in employment and job creation. Transition to a single market can have a negative impact on some sectors of a national economy due to increased international competition.
The UK’s eventual return to the European Union’s single market should not be ruled out, London Mayor Sadiq Khan has said, despite Sir Keir Starmer making it a red line in his “reset” talks ...
Now that services account for more than two-thirds of the European economy, and yet the Single Market lags behind in the integration of digital services. [65] According to European Commission , an integrated digital single market could increase EU gross GDP by more than 400 billion euro a year. [ 66 ]
Juncker appointed Estonian politician, Andrus Ansip, as vice-president for the Digital Single Market within the EC that year, tasked with working with Günther Oettinger, European Commissioner for Digital Economy and Society, and other sections within the EC to come up with the necessary legislative steps that would be required to implement a ...
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On 6 May 2015, the European Commission, led at the time by Jean-Claude Juncker, established the Digital Single Market Strategy, intended to remove virtual borders, boost digital connectivity, and make it easier for consumers to access cross-border online content across the European Union. [2] The Digital Single Market, which is one of the ...