ABSTRACT
The Single [Internal] Market was not a panacea for all problems facing European firms, but rather it was about taking opportunities [Commission Report, March 1994].
COMMON MARKET
A clear relationship was established in Chapter 2 between the economic concept of negative integration (the removal of restrictions and discrimination) and the Community law concept of Common Market as found in Article 2 of the Treaty. There is no definition of ‘Common Market’ in the Treaty. It can be loosely described as a unitary market covering the entire territory of the Community and governed by a single set of Community rules. The basic legal principle underlying this market (and the Internal Market, see below) is that national measures which obstruct or hinder-have a negative effect on-the free movement of goods, persons, services and capital, the fundamental economic freedoms guaranteed by the Treaty, are in contravention of Community law unless they can be justified by overriding matters of public interest.
