Importance Of Economic Integration

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The European project has always revolved around the idea of economic unification as economic integration was viewed as a way to increase integration while laying down the cornerstones for political integration. Thus, policy areas related to economy are prioritised within the European project . The importance of economic integration can be seen already before the Rome Treaty (1957) which established the European Coal and Steel Community. In 1956, the Spaak report created a blueprint for the creation of an internal market, which should be based on the elimination of protective barriers and the creation of standards of completion, the limitation of state intervention and monopolistic conditions, and measures to prevent distortion of completion including the possibility of harmonisation of policies at the European level . The ideas put forward in the Spaak report reoccurred in the Treaty of Rome, which aimed at establishing a common market with a common customs union being in the heart of it together with the four freedoms . The development of the internal market picked up the pace with the introduction of the principle of mutual recognition and the appointment of Jacque Delors as President of the European Commission and his subsequent launch of the ‘1992 Programme’. The 1992 Programme sought to complete the internal market by the end of 1992 through the removal of physical, technical, and fiscal barriers . As this brief introduction to the development of the internal market
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