European Law II: Internal market

These flashcards cover key concepts related to the European law, focusing on free trade, integration stages, and the framework of the Internal Market.

What is the primary purpose of free trade according to economic theory?

To allow specialization which leads to comparative advantage and maximizes consumer welfare.

Who is known for the ideology of free trade, stating that it's prudent to buy rather than produce at home if it costs more?

Adam Smith.

What does EFTA stand for?

European Free Trade Association.

Which countries are members of the EFTA?

Iceland, Liechtenstein, Norway, and Switzerland.

When was EFTA established?

1960.

What is one main task of EFTA?

Managing the Agreement on the European Economic Area (EEA Agreement).

What does the WTO stand for?

World Trade Organisation.

What is the primary role of the WTO?

To promote and oversee free trade agreements between nations.

What major agreements are administered by the WTO?

GATT (Trade in Goods), GATS (Trade in Services), and TRIPS (Trade-related aspects of intellectual property rights).

What does the term Free Trade Area mean?

Member States remove impediments to the free movement of goods but retain autonomy to regulate trade with non-member states.

What is a Customs Union?

A Free Trade Area plus a common external policy regarding non-Member States.

Define a Common Market.

A Customs Union with free movement of persons, services, and capital.

What does the term Monetary Union refer to?

A Common Market plus a single currency.

What constitutes a Political Union?

An Economic Union with a central authority overseeing monetary and fiscal policies.

What is the Internal Market according to the Lisbon Treaty?

An area without internal frontiers ensuring free movement of goods, services, persons, and capital.

What are the four freedoms in the context of the EU Internal Market?

The free movement of goods, services, persons, and capital.

Who presented the plan for a single market in 1985?

Jacques Delors.

What are the three obstacles identified to the internal market?

Physical barriers, technical barriers, and fiscal barriers.

What legal document provided the means to achieve the internal market objectives?

Single European Act of 1986.

What does Art. 30 TFEU prohibit?

Customs duties on imports and exports between Member States.

What does the principle of non-discrimination ensure in the common market?

Goods, services, and capital are treated equally regardless of their origin.

What is meant by market access in the context of national rules?

National rules that hinder market access can be unlawful, even if they don't discriminate.

Provide an example of case law regarding market access.

Gebhard, C-55/94, which concerned national rules that hindered the exercise of fundamental freedoms.

What does the centralised model imply in integration theory?

The need for centralised standards to ensure full mobility and market functionality.

What is the EEA Agreement?

An agreement extending the EU Internal Market to EFTA states, signed in 1992 and effective from 1994.

How does the EEA ensure homogeneity with EU law?

By incorporating EEA-relevant EU acts into the EEA Agreement.

What is the objective of the EEA Agreement?

To achieve a homogeneous EEA based on common rules and equal competition conditions.

What are the functions of the Council in the internal market according to the Lisbon Treaty?

Determine guidelines and conditions necessary for balanced progress in the sectors concerned.

What defines a fully integrated union?

The complete unification of economies involved, including common policies on social security and income tax.

What did the Single Market White Paper address?

Reported on the completion of the internal market and identified barriers to trade.