common market

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common market

a market where obstacles to free movement of the important sectors of the economy have been removed. Although a general term in economics, it is of special significance to lawyers as one of the foundations of the European Union. In the European Economic Community Treaty, the essential part of the Common Market was expressed as involving four freedoms: free movement of goods, free movement of persons, free movement of services and of establishment and free movement of capital. It also requires more positive steps, and these are reflected in policies: the Common Agricultural Policy, the transport policy and competition policy. The single European act prescribed a timetable for the single internal market. In the UK, in common parlance, the term Common Market is still erroneously or mischievously used of the European Union itself
References in periodicals archive ?
The Conservative Government, led by Theresa May, has also said the UK will leave the single market following an "implementation period"- likely to last two years after Brexit takes place in March 2019.
Ian Blackford, the SNP leader at Westminster, accused Corbyn of failing working families by turning down an invitation to co-ordinate efforts with other parties who want to block Government moves to take the UK out of the single market when it leaves the EU.
Ian Blackford called on Labour to get behind the stance of the SNP and others in arguing Britain should stay in the single market and the customs union.
Those surveyed were given two options: keeping free access to the Single Market, so that the UK can continue to sell goods and services without incurring tariffs or other obstacles to trade, while allowing citizens from all EU countries to work in the UK; or restricting the right of people from EU countries to work in the UK, but not having free access to the Single Market.
The Single Market is the major economic unifying factor within the European Union, especially at this delicate juncture of the European integration process when we are mapping out what the Europe of the future will look like and how this future will be financed, stated Minister Cardona.
I've listened hard to economic experts and trade union leaders and I'm utterly convinced that we must fight to stay in the European single market, and in so doing, limit the damage that Brexit will cause.
Ten motions from local Labour parties backing single market membership are due to be heard at the conference.
They said the UK should be part of the European Economic Area (EEA) after Brexit - which would mean remaining in the single market permanently.
A letter signed by Labour politicians including Newcastle leader Nick Forbes said: "As a minimum - Labour must clearly and unambiguously set as a negotiating objective the goal of remaining part of the European Economic Area, in order to participate on a permanent basis in the Single Market.
Mr Corbyn is coming under increasing pressure to clarify his position that he wants a "jobs-first Brexit" which allows Britain to retain the benefits of the single market and customs union.
Adam Price, the party's economy spokesman, will join her on the visit and make the case that staying in the single market and customs union is a "live and realistic option".
This confirms that, in the event of Brexit taking place, the best way to protect the economy would be to remain in the Single Market and the Customs Union.

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