Eu as an Effective Mechanism for Market Creation and Regulation
“The EU remains an effective model of market creation and regulation for Europe.” How valid is this claim?
Introduction
60 years of European Union has changed the economic landscape of Europe and the way European countries and businesses interact with each other. EU has laid ground to a remarkable progress in free trade of goods, services, mobility of people and flow of capital in this part of the world.
20 years from the creation of single market in 1992 marks an important milestone and is a good occasion to draw summaries of what was achieved – has the model for market creation and regulation proved effective or not?
Looking at what has been done clearly we could clearly see a number of victories, tangible changes, that can be listed in support of the claim.
Could we have achieved more? Was everything that EU brought about fully optimal? Was there anything that could be done better? Probably, yes. A number of changes have not come at the speed that was expected, and there is a number of deficiencies or inefficiencies in the system.
However, even though we have to live with some of its imperfections, it seems that no other world organisation of free, independent countries would be able to demonstrate more than what EU has accomplished and from this perspective it is still the best system anybody was able to come up with in the recent history and there is more things in support of EU contribution to the creation and regulation of free market than against it.
What has EU achieved
The achievements of EU, especially in the last 20 years are quite obvious and easy to demonstrate for both the citizens, consumers as well as for businesses and countries. Trade between EU countries grew from 800bn in 1992 to 2800bn in 2011 (European Union, 2012). Vast number of trade barriers has been removed, not only the tariffs or trading legislation, but also other type of barriers, such as physical customs controls as well as alignment of technical rules in
Introduction
60 years of European Union has changed the economic landscape of Europe and the way European countries and businesses interact with each other. EU has laid ground to a remarkable progress in free trade of goods, services, mobility of people and flow of capital in this part of the world.
20 years from the creation of single market in 1992 marks an important milestone and is a good occasion to draw summaries of what was achieved – has the model for market creation and regulation proved effective or not?
Looking at what has been done clearly we could clearly see a number of victories, tangible changes, that can be listed in support of the claim.
Could we have achieved more? Was everything that EU brought about fully optimal? Was there anything that could be done better? Probably, yes. A number of changes have not come at the speed that was expected, and there is a number of deficiencies or inefficiencies in the system.
However, even though we have to live with some of its imperfections, it seems that no other world organisation of free, independent countries would be able to demonstrate more than what EU has accomplished and from this perspective it is still the best system anybody was able to come up with in the recent history and there is more things in support of EU contribution to the creation and regulation of free market than against it.
What has EU achieved
The achievements of EU, especially in the last 20 years are quite obvious and easy to demonstrate for both the citizens, consumers as well as for businesses and countries. Trade between EU countries grew from 800bn in 1992 to 2800bn in 2011 (European Union, 2012). Vast number of trade barriers has been removed, not only the tariffs or trading legislation, but also other type of barriers, such as physical customs controls as well as alignment of technical rules in
References: European Union (2012). 20 Years of the European Single Market. Together for new growth. Main achievements, Luxemburg: Publications Office of the European Union, 2012 European Union (2011). The Single Market Through the Lense of the People. A snapshot of citizens’ and businesses’ 20 main concerns, Luxemburg: Publications Office of the European Union, 2011