Single European Market Essay Example | Topics and Well Written Essays - 1750 words

Single European Market - Essay Example Single European Market The Single Market is the European variant of the answer to the economic and technological challenges of the twenty first century and a basis for successful monetary and political integration. As a matter of fact the European Union has reached more than all the other integration groupings. Some of such groupings consider the European model as an example for imitation. Mutual opening of markets is not an easy task even for the safe and economically developed Europe. The idea to create a space without internal borders, comparable in the sizes with the USA market, has come more than fifty more years ago. And perhaps only the first step was rather unproblematic for the countries of the European community: the European Customs Union has been constructed in 1968 even before the planned term. But then they have to wait for almost twenty years for preconditions of completion of the Single Market formation. In 1985 the European Commission under the direction of Jacques Delors has issued the White Paper, a plan of elimination of internal protectionist barriers (physical, technical and tax) on the way of free movement of the goods, services, capitals and people. Proposals of the White Paper have turned out in the development of 282 regulations and directives, most of which has been accepted by December, 31st, 1992, that is to the official date of the Single Market formation completion. ... But the basis, which has been constructed, represented only a good skeleton for so-called "four freedoms". Construction of the Single Market proceeded. The EU institutions consistently revealed and eliminated loopholes in the national law and practice doing all possible to prevent any opportunity of state and corporate protectionism. Today the Single Market is already governed by more than 1500 directives and 400 regulations. The EU law-making has concerned with the newest goods and services, which mass distribution could not been predicted in 1980s. And it seems like there's no bottom to it. Most likely the construction of the Single Market will be conducted without a breach of continuity. While one set of tasks moves forward, the other one even more complex will certainly appear. According to the official reports (EUROPEAN COMMISSION, 2004) of the beginning of the decade, positive influence of the Single Market on economy of the member-states began to fade on a number of parameters. Therefore the fifth, the most arrogant expansion of the European Union of 2004 has been called to recover dynamics of economic parameters. And indeed in the process of the Single Market expansion on the East export-import opportunities of the EU were strengthened. For the period of 1992 -2005 the parameter of foreign trade has increased from 6.9 per cent up to 12.3 per cent of cumulative gross domestic product (GDP). Realization of the other project, the economic and currency union has made the freedom of movement of capitals full-fledged. Owing to active lawmaking during last seven years the price of trans-boundary transfers has fallen from 17 - 25 euro for each one hundred up to 2.5