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The Importance of the EU Single Market

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Economy Notícia

This article discusses the significance of the EU single market and the potential changes it may undergo. It highlights the continuous efforts of the EU to improve and create a favorable environment for its citizens.

I recognise that I am likely preaching to the choir here but as I’ve outlined in a few of my previous articles, there is no serious debate in theFundamental to this is membership of the EU’s single market – arguably its biggest asset and one which we benefitted from membership of for nearly three decades.

Today, from Riga in the Baltics to Valletta in the Mediterranean and Dublin in Ireland, euros and people flow seamlessly where once there were numerous bureaucratic obstacles . The single market is the engine which drives the largest economy in the world and its largest trading bloc. The world is ever-changing, and the EU recognises that it must continually adapt if it is to succeed in a more unstable geopolitical landscape. The Commission’s website outlines some of the barriers within the single market it is looking to eliminate over time, such as how to facilitate a more seamless flow of energy, capital and goods, regulatory harmonisation, as well as simplification of rules on the recognition of vocational qualifications.

Some of their proposals are already being widely discussed and have been around for years, such as harmonisation of the bloc’s bankruptcy and corporate tax laws, as well as completing the creation of a capital markets union. We are all aware of the economic and infrastructure challenges facing us. The Scottish Government is doing what it can. But while we are tethered to the UK, it will only be able to operate with both hands tied behind its back as

 

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