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单词 common market
释义 common market

A fully integrated market area. This covers not only complete freedom of internal trade, as in a customs union, but also free mobility of labour and capital. Full mobility of labour involves the right to reside and accept employment in all member countries, and mutual recognition of professional and technical qualifications, subject to satisfying local language requirements. Full capital mobility requires lack of exchange controls, and full rights of establishment for firms in all countries. It is a matter of controversy whether a full common market can be established without a single currency, and a common system of prudential regulation of banks and other financial institutions.

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更新时间:2024/11/11 5:08:23