The single market
Defining The European Union
Most of us may have heard of the European Union and although we have an idea of what it is, only a handful of people can exactly define the true purpose of the European Union. For this reason which is to educate you about the details on European Union, we have conducted a quick guide for your information. Union, which is the word after 'European Union', suggests that this is some kind of organization and like any other organizations, they have their own members. This much can be said without an explanation but there is something that sets this certain group from any other organizations. It is special because it is comprised of 25 countries which are called as member states and these members, work and help each other hand in hand towards the benefit of every member that is a part of the union. Currently, the 25 countries which are part of this European Union are Belgium, France, Germany, Italy, Luxembourg, Netherlands, Denmark, Ireland, United Kingdom, Greece, Portugal, Spain, Austria, Finland, Sweden, Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, Slovenia, Romania, Bulgaria. Learn more about BREXIT, go here.
Of course in a union, there are also guidelines that they require each member to follow and these can be summed up to three 'pillars' of cooperation. The main achievement of the first pillar or economic cooperation is the single European market. The world's largest free trade area is the four freedoms of movement which is where the single market is based on. To put it simply, citizens, capital, goods and services are all able to move as they please just as long as it is within the union. Since this is so, tariff barriers are also nonexistent within the European Union which in turn allows its citizens to live and work wherever they want to without any restrictions as long as it is within the coverage of the union. With this, a large number of Europeans have certainly exercised this right to live and work in a different country which is covered by the European Union.
The second pillar of cooperation is what they call the 'Common Foreign and Security Policy' which is also known as the reason behind its economic success. This can bind European Union members both legally and non-legally and can also be used as a standing ground to come up with policies which will impact every member state.
The final pillar of the European Union is the 'Justice and Home Affairs.' For sure, there are a lot of minimum standards on different kinds of issues which are agreed upon and these minimum standards can bind legally across the EU.