Single market

One another reason could be that Ireland remaining Celtic country and culture and France has always seen itself as a country Of Celtic origins-even if hasn’t been a Celtic country since the Roman invasion so they are fascinated by this country that has kept that original culture alive, especially now days when young French people too love everything that has to do with very old legends full of elves, pixies and other faeries and for them, Ireland is the country that embodies those. (http:// WV. Shakespearean . Net) QUESTION 4 The Single Market is the core of Rupee’s economic and integration architecture.

It has guaranteed the free movement of people, goods, services and capital in the European Economic Area since 1993 and has been continuously modified since then to keep pace with more recent placements, such as the growing importance Of the service sector. The four freedoms of the Single Market The cornerstones of the Single European Market are the four freedoms: ;Free movement of goods: No restrictions on the trade in goods, which also implies a fundamental ban on state subsidies, discriminatory taxes on imported goods and preferential tax treatment for exports. Free movement of people: Includes the freedom of movement of workers and the freedom of establishment. This gives all EX. citizens the right to work in another member state. In the process they must not encounter discrimination due to their commonality. Moreover, there is to be mutual recognition of educational and vocational qualifications. -Free movement of services Providers of services may conduct their business in all member states without having to be settled there. Consumers can select the best offer from the whole of Europe. Free movement of capital and payments: Capital controls and restrictions on the amount of currency that may be imported or exported are abolished and utilizing the offers of foreign financial service providers is made easier. What benefits does the Single Market offer? Creating the Single Market opened up various opportunities for welfare gains Direct cost reductions thanks to the abolition of border formalities and national Regulations: harmonistic of production and quality standards enables products to be marketed more easily and cheaply within the EX..

This reduces the price of imports for companies and consumers. A substantive breakthrough has been achieved by the principle of mutual recognition established by the Single Market Act. This ensures that a product which is already approved in one country can also be sold in the other member states. The abolition of national regulations should be reflected in an increase in intra-E trade. Economies of scale: access to a bigger market increases the sales potential of companies.

Especially in industries characterized by increasing economies of scale (I. E. Where profitability increases when the production volume rises, e. G. Due to high fixed costs), companies can thus manufacture more cost- efficiently. Companies operating across borders can optimize their production processes by establishing international manufacturing en;ores and using comparative cost advantages. They can, for example, acquire takes in foreign companies merge with them and relocate individual links in the production chain within the Single Market.

Overall, this should not only boost competitiveness vies-;-vies rival companies outside the ELK, but also make the EX. a more appealing destination for foreign direct investment from third countries. -Stiffer competition due to lower entry barriers: simplified market entry for foreign firms increases the competitive pressure. Inefficient companies are squeezed out by more efficient competitors and the cost advantage is partly passed on to the consumer. This should reduce the mark-ups in heavily retorted and inefficient markets and a Europe-wide process of price convergence should be perceptible.

Another positive aspect for consumers is an increase in product diversity. -Simplification of cross-border mobility and an increase in the labor-force Potential: the freedom of movement guarantees all EX. citizens the ability to settle in another Single Market country. They must not be subjected to discrimination there and they have to be able to participate in the labor market on the same terms as domestic workers. The recognition of vocational and academic qualifications enhances their labor market and earnings respects abroad, and makes it easier and less costly for companies to attract skilled personnel from abroad.