A single market is an area where trade borders have been removed and free movement of goods, services, and people is permitted.

There are many beneficial aspects to a single market like:

• create a competitive environment that keeps costs low;

• the free movement of labour, goods, and service;

• the flow of trade is vast among different countries, allowing much higher consumer potential for businesses;

• the vast competition, consumers then have many more options;

• lower prices;

• the ability to work anywhere within the market.

• Borders and security

  Defending the EU's external borders and fighting organised crime are activities coordinated at EU level by agencies like Frontex and Europol.

• Consumers

  Maximising consumer participation and trust in the market and safeguarding and integrating into EU policies the interests of consumers.

• Culture and media

  The EU Commission supports the cultural industry in Europe with different programmes and funding. The aim is to increase cultural diversity and create jobs.

• Employment and social affairs

  Responsibility for employment and social policy lies primarily with national governments, whose efforts are supported and complemented by the EU.

1. European Parliament:

The European Parliament has 3 roles: It debates legislation. It can pass or reject laws, and it can also make amendments (but not in all cases). Laws must also be passed by the Council of the EU in order to become law.

• promotes the rights of women, children, minorities and displaced people. 

• opposes the death penalty, torture, human trafficking and discrimination. 

• ensures respect for civil, political, economic, social and cultural rights. 

• defends human rights within the framework of a dynamic partnership with partner countries, international and regional organizations and groups and associations at all levels of society. 

• provides for the inclusion of human rights clauses in all trade or cooperation agreements with non-EU countries.

The European Union was created on 1^st of November, 1993. In Maastricht, Netherlands. Has its origins in post–World War II attempts to integrate European economies and prevent future conflicts.

2.    Can you list the founding member countries of the European Union?

The founding members of the EU were: Belgium; France; Germany; Italy; Luxemburg and Netherlands.

Commercial agreements vary depending on content:

• Economic Partnership Agreements (EPAs) – support the development of trading partners in African, Caribbean and Pacific countries

• Free trade agreements (FTAs) – allow for the reciprocal opening of markets in developed countries and emerging economies by granting preferential access to markets

• Association Agreements (AA) – reinforce more comprehensive political agreements

The European Council, provides the necessary impetus for the development of the European Union and sets out the general political guidelines. The Commission President is also a non-voting member.

The European Commission is the EU's politically independent executive arm. It is alone responsible for drawing up proposals for new European legislation, and it implements the decisions of the European Parliament and the Council of the EU.

They review the legality of acts of the EU institutions and decide whether Member States have fulfilled their obligations under primary and secondary law. The Court of Justice also provides interpretations of EU law when so requested by national judges.

• High levels of debt and public deficits in some eurozone countries;

• Weaknesses in the European banking system;

• Economic recession and increased unemployment in some euro zone countries;

• Persistent trade imbalances in the eurozone.

The ECB is the central bank of the European Union countries which use the euro. Their main task is to maintain price stability. They do this by making sure that inflation remains low, stable and predictable. In this way, they seek to help you plan your saving and spending.

The first treaty, which established the European Economic Community (EEC), was signed in Rome in 1957. There have been five subsequent treaties – the Single European Act (1986), the Treaty of Maastricht (1992), the Treaty of Amsterdam (1997), the Treaty of Nice (2001) and the Treaty of Lisbon (2007).

After a decade of preparations, the euro was launched on 1 January 1999: for the first three years it was an 'invisible' currency, only used for accounting purposes and electronic payments. Coins and banknotes were launched on 1 January 2002, and in 12 EU countries the biggest cash changeover in history took place.

5.    How has the membership of the European Union changed since its inception?

In 1995, Austria, Finland, and Sweden joined the EU. In 2002, euro banknotes and coins replaced national currencies in 12 of the member states. Since then, the eurozone has increased to encompass 20 countries. The euro currency became the second-largest reserve currency in the world.

Being an element within the the wider area of freedom, security and justice policy of the European Union (EU), it mostly functions as a single jurisdiction under a common visa policy for international travel purposes.

It has an estimated budget of €26.2 billion. This is nearly double the funding compared to its predecessor programme (2014-2020).

The 2021-2027 programme places a strong focus on social inclusion, the green and digital transitions, and promoting young people’s participation in democratic life.

It supports priorities and activities set out in the European Education Area, Digital Education Action Plan and the European Skills Agenda. The programme also

• supports the European Pillar of Social Rights

• implements the EU Youth Strategy 2019-2027

• develops the European dimension in sport