Single/Common Market

We know that a well-functioning Single Market is in EU Member States' best interests. It has made citizens and businesses better off. But, a common market is a customs union with common policies on product regulation, and freedom of movement of all the three factors of production (land, capital and labour) and of enterprise. The goal is that movement of capital, labour, goods, and services between the members is as easy as within them. This is the fourth stage of economic integration. Sometimes a single market is differentiated as a more advanced form of common market. In comparison to common a single market envisions more efforts geared towards removing the physical (borders), technical (standards) and fiscal (taxes) barriers among the member states. These barriers obstruct the freedom of movement of the four factors of production. To remove these barriers the member states need political will and they have to formulate common economic policies. The creation of a single market organization is of historical importance. It would have been unthinkable until a few years ago to turn fifty Council regulations into one. With today's decision we succeeded in streamlining agricultural market legislation, rendering it more transparent and clearer and thus making a key contribution to a simplification of the common agricultural policy. The European Commission today has proposed to the Council and the European Parliament to adopt one single Common Market Organization for all agricultural products.…