With a population of over 500 million and a GDP exceeding $US16 trillion, the European Union (EU) is the worlds largest economy. In 1987, the EU commenced implementation of the Single European Market (SEM) program. The objective of the SEM was to remove all internal barriers to trade. It emphasized the centrality of the four freedoms to the harmonization of the EU economy: free movement of goods, services, labour and capital. The four freedoms have transformed the EU from a customs union to a single market. In 1999, the EU also adopted a single currency, the euro. This book provides an economic and political analysis of the EU Single Market in order to assess its medium-term outcomes across a range of policy areas. The SEM involves a significant restructuring of EU economic and competition policy. The most comprehensive explanations of EU integration have come from international relations and integration theory. This volume focuses upon the key debates between neorealist and neoliberal explanations of EU integration within the framework of the Single Market. This book will be particularly useful to professionals working in the fields of European economics, business and finance.

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Dr. Rémy Davison is Deputy Director of the Monash European and EUCentre (MEEUC) and Senior Lecturer in International Relations atMonash University, Australia. Dr. Davison is the author ofForeign Policies of the Great and Emerging Powers (Prentice Hall,2008) and co-author of The New Global Politics of the AsiaPacific (Routledge 2004, 2011).