Abstract
This chapter examines the European Union’s original decision to create a single market and the moves to complete the internal market — what became known as the single market programme — in the 1980s. The economic ideal of a common or single European market lies at the core of the EU. The decision to institute a drive to achieve a single internal market by the end of 1992 played a key role in the revival of European integration. The chapter first traces the development of internal-market policy before discussing the record of implementation beyond 1992. It then considers recent policy developments in relation to the single market in the context of the eurozone crisis which began in 2009. It also reviews the academic literature on the single market, focusing on the main explanations for its development and some key ideological or normative perspectives on its consequences.
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