The legislative triangle of the European Union (Photo credit: Wikipedia)
This is an excellent article published by international think-tank, Bruegel. It’s a recommended read. Check it out!
Unfortunately, the model is theoretical. The reality is often very different with widespread protectionism, restricted practice and absence of effective competition. Let me cite some examples to illustrate my point:
1. Banking – absence of competition across Europe
2. Public sector, national & local government, police, fire and related services – outsourcing of front & back-office – across Europe
3. EU administration – outsourcing of front & back-office
5. Energy
6. Utilities
7. Professional services
8. Transportation
9. Supermarkets
Without reform, effective competition and fiscal stimulus, massive unemployment will continue, leading ultimately to a continental crisis on three dimensions:
- Political
- Social
- Economic
Thoughts?
The single market is as Dr Alf says ,theoretical and in the past 30 yeaers it has not produced a single net new job.
We were originally told by proponents of the Single Market like Ted Heath that the Single Market would create millions of new jobs and permit the unfettered movement of goods services and people.
What it has done is allowed 3 million Britons with language skills who would have got those jobs anyway to work at jobs on the European mainland.
Other than that it has cost the UK £12 billion gbp a yeaer and saddled us with unnecessary green taxes to solve non existent problems.
This has made us uncompetitive and the freedom of movement has permitted large numbers of Eastern European migrants to come here to do jobs which the indigenous population is unwilling or too lazy to do.
This in turn has made our housing shortage worse and put intolerable pressure on inefficient services.