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Introduction
A few years ago, when people moving around Europe was a big headache. Not so long ago people living in the 15 countries that are now EU Member States could take very little cash out to travel around. They had to put up with long queues at customs posts and passport controls every time they crossed a border. Now, thanks to the European Union and its constantly developing single market, we have new freedoms. They are freedoms to travel, work and do business abroad, choose from more goods and services. There are also freedoms from many unnecessary rules and regulations, from 'rip off' prices in markets closed to competition and from artificial restrictions on choice. No other region in the world can match Europe's achievement in banishing borders without diminishing the importance of national languages, cultures and traditions. People move freely across most borders: more Europeans are visiting their EU neighbours for a holiday or study break than ever before. Gone to work in another Member State is much easier now countries recognise a wide variety of each other's professional qualifications. Goods are no longer delayed for hours or days at borders by heavy paperwork: this makes delivery times shorter, allowing manufactures to save money and reduce prices for customers. Consumer choice is vast: the range of products on sale across the EU is wider than ever and in most cases prices are easily compared thanks to the EURO. Manufactures have to keep prices down because they are selling into one huge competitive market. Cross-border services are rapidly taking off: insurance, property, transport and tourism are among a wide range of services being marketed by companies in one Member State to customers in other countries. What is more, trade between the EU countries was often disrupted by shifts in the exchange rates between their currencies. That is why, in 1978, the European Monetary System was launched. It brought greater stability to the market by tying the national currencies more closely together. In 1979 begun a process to fix a single currency among the European Union members. The intention has been that by the end of this century, this process involved that some countries will have given up their individual currencies and be replaced by a common currency, called EURO. A European Single Market will be created, which has the aim to allow the free movement of goods, persons, services and capital inside the European area. Also, a central European bank will run the monetary policy for all member countries, with power to control money supply and interest rates.
Last Updated: 28th April 2003 Copyright 2003 © Konstantinos Anagnostou |
