"This strategy paper focuses on making the most of the EU single market. The EU should pursue a genuine single market, and treat it as a common asset of all its citizens, economic operators and member states. The economic case to be made on behalf of the genuine single market is powerful and even more so due to the findings of recent empirical economic research. However, only the genuine single market can realise the expectations of such large gains. Weak, 'feasible' action plans cannot! The strategy is based, first of all, on a clear design of the genuine single market and subsequently concentrates on 'what it takes'. Ten types of actions sum up 'what it takes': five at the EU level, four at the EU-member state interface, and finally, the realisation of legitimacy and acceptance. This report was contributed to the High-Level Group for the Single Market Strategy of the European Parliament, of which the author was a member. Its publication coincides with the publication of the report "A strategy for completing the Single Market: The trillion euro bonus" by the High Level Panel in a special meeting of the European Parliament's IMCO Committee on 14 January 2016. The paper was prepared at the request of the Impact Assessment Unit of the Directorate for Impact Assessment and European Added Value, within the Directorate General for Parliamentary Research Services (DG EPRS) of the General Secretariat of the European Parliament. It will also be published by the European Parliament as a study under no. PE558.772 and is republished here by CEPS with the kind permission of the European Parliament"--Publisher's description.

The purpose of this revised and extended book is to try to explain how the policies of the Community are meant to achieve its primary objectives. A short history of the foundation and major events are included and the formal institutions and the actual decision-making processes are explained.

A key message of this report is that full and effective implementation of proposed legislation will be necessary to ensure a true internal market for energy in the EU, but this alone will not be sufficient. In parallel, more attention must be paid to other, less-prominent fields. The report singles out i) the introduction of incentive-based network regulation and ii) the careful design of principal elements of the wholesale market, i.e. trade of electricity and gas for resale ("wholesale market design and rules"). Moreover, the internal market needs to be buttressed with the consistent application of competition rules across member states to avoid the creation of national champions. The report also argues that a functioning electricity and gas market depends on market-compatible solutions to security of supply and environmental issues and a rethinking of "executive agencies", whose use to date is inhibited by the Meroni doctrine.

Evidence taken before Sub-committee B (Internal Market)

The economic potential of the Single Market could reach, according to research carried out by the European Parliament, as much as one trillion euro per annum in additional GDP growth. Securing this economic 'bonus' requires a strategic approach, through which the EU would pursue a "genuine Single Market" and treat it is as a common asset. Such a strategy implies leadership and new politics for the Single Market, involving the full commitment of Member States and their compliance in implementing of EU law and removing the remaining obstacles. Six key recommendations are put forward to enhance the functioning of the Single market, focused on concepts of reframing, reengineering and retooling the Single Market.

The Internal Market Ideal honours the pathbreaking work of Professor Stephen Weatherill, Jacques Delors Professor of European Law at the University of Oxford since 1998. For more than three decades, Professor Stephen Weatherill has been the dominant figure in internal market debates, shaping the European Union's Internal Market both at Oxford and internationally. Looming large in fields as disparate as consumer protection and sports law, his voice has guided how relevant laws and regulations are understood and how their varying virtues and pitfalls are perceived. A reference to his seminal work The Internal Market as a Legal Concept (OUP, 2016), the present volume is not simply a celebration of Weatherill's life, but also an examination of the legal issues surrounding the semi-integrated market of the European Union. Across nineteen essays, the collection presents a vision of the European Union not yet achieved; that is, a Union which benefits from economic growth and pursues non-economic objectives, whilst carefully balancing respect for Member States' autonomy and the European Union's self-sufficiency. An invaluable resource for students, researchers, practitioners, and policy makers in the field of European Law, The Internal Market Ideal, is a must read for anyone wishing to learn more about the illustrious life and work of Professor Stephen Weatherill.