Economic Integration within the EU Essay Example | Topics and Well Written Essays - 2000 words

Economic Integration deep down the EU - Essay Example(Arestis, P. et al 1999)DG ECFIN economists are playing vital role in the ongoing forward-looking review of the European Union single market that the European Commission is chalking out. The barriers still exist in the internal market of the Union. Which indicates that many benefits have yet to be realised The potential of the single market is to be contributed to a more dynamic, innovative and private-enterprise(a) EU From the economic perspective of the single market review, DG ECFIN analysts advised that it is time to move towards a more economics-based and results-oriented approach using the targeted monitoring of selected markets and sectors. It would toy real improvements to the operations of the single market.The objective is to realize the four freedoms enshrined in the treaty. . At present, this vision is a successful reality in many spheres. The individuals suffer live, work, study or retire in any EU country. The Co nsumers would have an extensive choice of products and services at lower prices. The businesses would have lower cost and more opportunities to flourish in a Europe of close to 500 million customers without internal boundaries. The expected gains for the EU economy from the single market inducts an exceptional 2.2% on GDP and more than 2.75 million jobs created between 1992 and 2006.The The single market may be deemed as a natural coefficient of economic and monetary amount (EMU). The euro is not only substitutes the single market by removing the costs and inconveniences of multiple currencies, but it is also the concrete expression of the willingness of the euro-area Member States to work together within EMU. This is a strong, united and sustainable EU economy that can defend Europes citizens against global catastrophe and turbulence.Many policies for a single marketUsing a constitutional political economy approach, this paper attempts to demonstrate that both the principle of in tegrity and the principle of efficiency of collective action appear to be break by the European economic constitution. This occurs, respectively, because its provisions are not neutral, nor revisable, and because they do not sufficiently allow for the possibility of cooperative collective decision (leading to crossing in welfare) in a more than ever numerous and heterogeneous EU. Essential argument in this respect regards the implications of the structurally different economic performances and incentives of subaltern and large countries under the European economic constitution. (Laurent, E., and Cacheux, J. L. (2005),From the very beginning, the single market mechanism was more important than an economic policy decision. The ongoing crucial negotiations on an EU patent to defend European innovations and a common trade policy. It would gives flawless access to the single market for our global trade partners while promoting EU exports and our social and environmental standards glob ally. It was expected to launch a more dynamic, innovative and competitive EU economy. This has not materialized economic growth in the EU, determined by GDP per capita, has been below that of the US over the last ten years. Fabienne Ilzkovitz, one of the reports authors, who clarifies the economic