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European Single Market

What is the European Single Market?

The European Union (EU) is a union of a large number of European countries. The intention of the union is to remove the borders between all of the countries to allow EU citizens to move freely throughout the area. This gives greater flexibility to work in a different country contained in the EU. It also gives financial freedom. All citizens within the EU are treated the same when it comes to taxes, employment, and Social Security.

The European single market was born out of the EU. The European single market allows for the easy movement of services and materials because it looks at the EU as a whole territory. It does not have borders, but most importantly, it does not have any regulations to block movement. A single market increases efficiency, reduces prices, and stimulates trade. The economy has grown with the creation of the single market. The hope was that this single market would be able to utilize the full potential of the market, as well as giving the market a nice boost. It allows business to take advantage of innovation and technology. The single market allows for safe and secure movement of services because of the strict standards that are followed.

The digital single market provides access to information and administration online. Citizens will be able to utilize more online services of the digital single market in the coming years. The plan is by 2023, that many procedures, car registration, for example, will be able to occur without any physical paperwork. The hope is that the digital single market will also help to protect the environment as there is a reduction of natural resource usage.

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