The European Economic Community ( Eec )

In order to understand the evolvement of the Single Market of the European Union, one has to take the general background into consideration. Therefore, it is important to have a look at the Treaty on European Union (Maastricht Treaty) which gave birth to the creation of the Single Market. Having been the Common Market before the Maastricht treaty, the European Economic Community (EEC) Treaty already clarified the objective of cooperation between member states. Throughout the Single Market, those objectives should be transformed into reality.

The Internal Market of the European Union (EU) is one of Europe’s significant achievements and its greatest resource in times of modern globalisation. Since its creation in 1993, the Internal Market has opened itself more to competition, created jobs and reduced many trade barriers. It is the principal instrument for building a stronger and fairer economy in the EU. It assures the free movement of people, services, goods and capital, and by doing so, creates fresh opportunities for businesses and consumers. The Treaty on the Functioning of the European Union adopts measures with the aim of combining national markets in a single market with the characteristics of a domestic market. The vision is that it should be as easy to trade between London and Madrid as it is between London and Manchester.

As the raison d 'etre of the common market, the free movement of goods may be regarded as a fundamental freedom common to all states holding membership of the European Community. The role of the European Court of Justice as a decision-maker is critical in maintaining and ensuring that free movement can prevail between the United States of Europe. Its

One of the earliest legislative in EU is The First Council Directive 89/104/EEC (hereinafter Harmonisation Directive). The main objective if this legislation was to minimise the differences between the national trade mark systems. These differences present barriers to trade and affect free movement of goods and services, thereby hindering the development of a single market. The Harmonisation Directive does not disturb the policies on procedure and is restricted to guidelines on substance. Even though the Harmonisation Directive which covers a wide range of issues and is hailed by the harmonization enthusiasts, the part such as the national trade mark office’s ex officio managing of grounds for refusal are still absent and not settled by the Directive. Therefore, in terms of single market requirements, the directive’s target of harmonization could still not be described as being totally in conformity with the single market

The European Union launched the economic and monetary union (EMU) of Europe on January 1st, 1999. January 1st of 2002 marked the establishment of a single currency through the introduction of euro bills and coins to 12 EU states. Formally called the “eurozone”, the movement to a single currency has developed as 18 EU member states currently use the euro. Desiring further political integration, the EMU was designed to maintain price stability through a central bank known as the European Central Bank (ECB). Although economic certainty was the goal, a financial crisis that erupted within the eurozone lead to questions about the credibility of the EMU. The debate over political integration was furthered by the introduction of ideas for increased fiscal federalism, similar to the current policies within the United States currency union. For a monetary union to succeed, a fiscal union is necessary to solve the vulnerabilities of the EMU and supervise national policy to prevent macroeconomic imbalances throughout Europe. However, the dispute over political centralization impedes the establishment of such a fiscal system within the upcoming decade.

EU stands for the European Union which was invented after the Second World War. The EU is a special economic and political partnership between 28 European countries together which covers more than half of the continent. EU purpose was to unite the european countries economically and politically and to bring peace to Europe (Europa.eu, N/A). EU was formed on April of 1951 by six countries which were France, Italy, Belgium, West Germany, Luxembourg and Netherlands. United Kingdom joined the EU on January 1973. On this year the United Kingdom started to follow EU law. Therefore, UK has three main sources of law which are statutory law (Act of Parliament), Case law and EU law. All of them could affect any business in various ways depend on business type, size, policies and etc. New countries which want to join EU must sign a treaty to become a member and to commit to their rules. There are five main bodies in EU: the Act Of Parliament, European Commission, European Council, Court of European Justice and Court of Auditors. Each body has its own specific things to be done (Keenan D. and Riches S., 2005). This report will discuss how United Kingdom’s membership of the European Union affects the business community, especially in the free movements, free trade, competition law and employment law.

The basic purpose of this essay is in the first part to examine how a court may recompense someone who suffers economic loss and to provide an essential knowledge of the arguments for and against the recovery of economic loss. Furthermore, there will be an analysis of some cases in order to understand the meaning of economic loss. In the second part we will try to find the action and the rules of European Union competition to be applied. Additionally, we will examine how it the single market can be protected from anti-competitive practices so as safe trade among the European Union may improve.

The European Economic Community grew bigger. The treaty had plans on building a common market in 1957 and this came into reality in with the creation of a customs union and eventually with the Single European Act (SEA) of 1986 setting up a much wider free market in all EU countries. Even in 1957, the founders “declared in its preamble that signatory states were determined to lay the foundations of an ever closer union among the peoples of Europe’. Which included closer trade.

In the aftermath of the 1957 Treaty , the European Economic Community (EEC) was established and customs barriers between the member states have been abolished. Member States throughout the Community, can “promote a harmonious development of economic activities, a continuous and balanced expansion, an increased stability, an accelerated raising of the standard of living and closer relations between them”. Therefore, in order for a common market to be established between Member States, the Community enacted some legislative provisions which aimed to a true harmonization of laws; incorporate different legal systems under a basic legal framework. The main issue arising is whether these legal provisions in accordance with the case law, ensured the free movement of goods within this market.

This report presents information on the Single European Market since its setting up in 1986 as an amendment of the Treaty of Rome, and the Single European Act (SEA) signed in 1987, which came into effect in 1992. It also covers how the internal market works. Moreover, it will analyse its successes, failures and recent changes. Finally, it will address the future prospects for expansion, further development in the relation to the Transatlantic Trade Investment Programme (TTIP) and UK membership.

One of the main objectives of the European Union (EU) is the establishment of the internal market, which shall consist of “area without internal frontiers in which the free movement of goods, persons, services and capital is ensured. The internal market is based upon a customs union achieved through the abolition of the imposition of customs duties and charges having an equivalent effect and the prohibition of discriminatory taxes on intra-EU imports. The internal market is enhanced by the provisions on free movement of workers, freedom of establishment, free movement of services, and free movement of capital. Whereas Articles 28 to 30 of the Treaty on the Functioning of the European Union (TFEU) provide for the establishment of an EU common external tariff and the elimination of customs duties, Articles 34 and 35 of the TFEU (with exceptions under Article 36) go further, and prohibit quantitative restrictions and measures having equivalent effect. Taken together, Articles 28 to 32 and 34 to 36 serve to ensure the free movement of goods within the EU and to facilitate the operation of the internal market.

Throughout time, states cooperate with each other in the fields of military, politics and economy.

The concept is carefully related to those of economic globalization which integrates national economies into the international economy. Such incorporations have been achieved through capital flow, trading of goods and services, and foreign direct investment. Since the primary link has been the European Union, which has become a major alliance amongst the European nations. With the EU’s focusing on globalization their economic power has gone up. I feel that with the EU having a single currency and free trade of goods and services is a major contribution to having a strong EU.

The European Union (EU) is a politico-financial union of 28 part expresses that are found predominantly in Europe. The EU works through an arrangement of supranational foundations and intergovernmental-arranged choices by the part states. The establishments are: the European Commission, the Council of the European Union, the European Council, the Court of Justice of the European Union, the European Central Bank, the Court of Auditors, and the European Parliament. Every five years, the European Parliament is chosen by the votes of the citizens of the EU.

With the effect of the Single European Act on 1st July 1987, the emergence of European Union (EU) as a common market has essentially been created. The benefits of this act are substantial to European firms, economies, and workers. It eliminates conflicting national regulations and trade barriers, as well as offering firms opportunity to sell their goods to all other EU members (Griffin & Pustay 2005).