SINGLE MARKET AND TRADE POLICY: THE TWO MAIN ASSETS OF THE EU AND THE PRICE THAT THE UNITED KINGDOM SHOULD PAY FOR GIVING THEM UP

Abstract

The European Single market and the trade policy represent the two main assets of the EU integration process. They are strictly interlinked. We cannot have one of them without the other. More generally without them the EU would not exist. The euro has a meaning and a function because of these two assets. Single market and trade policy are two powerful engines for growth. During the crisis, they have mitigated the effects of the recession. Now that growth (although moderate) is back, they can play a decisive role for job creation and higher levels of employment.The United Kingdom will have to pay a high price for leaving these two assets.