The internal market shall comprise an ‘area without internal frontiers, in which the free movement of goods, persons, services and capital is ensured’ (Single European Act, 1986).
The free movement of goods is ensured by removing customs duties and quantitative restrictions, and by prohibiting any measures with an equivalent effect. Products legally manufactured and marketed in a given Member State should, in principle, be able to be marketed in the market of any other Member State (principle of mutual recognition). Moreover, by adopting harmonized requirements, the EU legislator removes the obstacles created by the different national provisions, while promoting other Treaty objectives such as environmental and consumer protection or the values of competition.
EU citizens, whether employed or not, are entitled to move and live in any Member State of the Union. One of the main achievements of such freedom is the Area of Freedom, Security and Justice, characterized by the absence of internal border controls, by the existence of a common visa policy, and by police and judicial cooperation between Member States.
Freedom of establishment and freedom in the provision of services ensure the mobility of businesses and professionals within the European Union. Freedom in the provision of services is further reinforced by the rules of the Services Directive (2006/23/EC).
The Single Digital Market (SDM) aims at removing national barriers to online transactions, and is recognized by the European Commission as an immediate priority with a view, inter alia, to improving consumer and business access to digital goods and services across Europe.
Restrictions on the free movement of capital, whether between Member States or between them and third countries, are prohibited. European economies are tightly interconnected, forming an economic and monetary union (EMU). The EMU involves the coordination of Member States' fiscal and economic policies, a common monetary policy, and a common currency - the Euro.