The Single Market: Terminology
Free Trade Area
e.g. EFTA
Customs Union e.g. EU, EFTA
Economic Union e.g. Economic and Monetary Union (EMU)
Single/Common/Internal Market e.g. EU
e.g. EFTA
- MS remove all obstacles to trade between themselves
- Choose own policies for non-MS
Customs Union e.g. EU, EFTA
- MS remove all obstacles to trade between themselves
- Common policy for non-MS
Economic Union e.g. Economic and Monetary Union (EMU)
- MS remove all obstacles to trade between themsevles
- Common policy for non-MS
- Allow for free movement of goods, persons, services and capital
- Common fiscal and monetary policy
Single/Common/Internal Market e.g. EU
- MS remove all obstacles to trade between themsevles
- Common policy for non-MS
- Allow for free movement of goods, persons, services and capital
The Single Market: Fundamental Freedoms of the EU
Article 26 TFEU
"The internal market shall comprise an area without internal frontiers in which the freedom of movement of goods, persons, servies and capital is ensured."
Article 34 TFEU
Free movement of goods
Articles 45 and 49 TFEU
Free movement of persons: all EU citizens can freely choose which MS they with to study, live or work in
Article 56 TFEU
Freedom to provide services
Article 63 TFEU
Free movement of capital
"The internal market shall comprise an area without internal frontiers in which the freedom of movement of goods, persons, servies and capital is ensured."
Article 34 TFEU
Free movement of goods
Articles 45 and 49 TFEU
Free movement of persons: all EU citizens can freely choose which MS they with to study, live or work in
Article 56 TFEU
Freedom to provide services
Article 63 TFEU
Free movement of capital