Single European Act

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Single European Act

Act intended to eliminate barriers on trade and capital flows between and among European countries.

Single European Act

An agreement among European Community members to gradually reduce tariffs and trade barriers with a goal of creating a Common Market in Europe. The Act aimed to unify trade and other laws among participating nations. It came into effect in 1987 and was replaced by the institutions of the European Union in 1993.
References in periodicals archive ?
The Paisley and Renfrewshire North representative said:"The best way to protect the economy and jobs in Renfrewshire is to ensure that Scotland remains within the European Single Market and Customs Union.
Scottish leader Nicola Sturgeon said on Sunday there was a "golden opportunity" to argue for Britain to remain in the European single market after Brexit, as no-one had yet demonstrated the benefit of loosening trade ties with the EU.
Conservatives opposed to a cliff-edge Brexit said the prime minister's policy of "continued regulatory alignment" was the basis for a Norway-style trade deal within the European single market of 500mn customers.
When push comes to shove on Brexit, Conservative MPs who view quitting the European single market and customs union as unmitigated disasters will sacrifice other people's jobs to save their own.
CHANCELLOR Philip Hammond has been accused of caving in to hard-line Cabinet Brexiteers, after accepting Britain will withdraw from the European single market and the Customs union when it leaves the EU in 20 months' time.
Our Labour MPs describe themselves as pro-European, so we hope Kevin Brennan, Stephen Doughty, Anna McMorrin and Jo Stevens will support this Lib Dem amendment and keep Britain and Cardiff in the European Single Market.
Britain's Society of Motor Manufacturers and Traders, an automotive industry body, this week urged the government to agree on an interim Brexit trade deal, calling for Britain to keep membership of the European single market and customs union until a final Brexit deal has been inked.
If Britain says no, it can't get full access to the European single market."
Tory MPs are divided between favoring a "hard Brexit" outside of the European single market to obtain complete control over immigration, or a "soft Brexit" where the UK remains in the free trade zone, but potentially has to comply with some EU rules.
His comments come ahead of the Conservative Party conference, beginning on Sunday, which looks set to be dominated by splits over whether to pursue a so-called "hard Brexit" outside the European single market or to remain in the free trade zone.
He warns Britain that the European single market, to which Britain is expected to seek continued access "entails four freedoms (capital, goods, services, persons) and not three, or three and a half." "Negotiations must be concluded swiftly," he says.

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