EU Single Market(s) after Brexit

Abstract

This article focuses on the European single market, which has been one of the central issues in terms of the impacts of Britain's withdrawal from the EU. As the aim of the single market project is to open the internal borders of the EU to the free movement of goods, services, capital, and labor to create cross-jurisdictional markets, the economic and political effects of Brexit will be widespread, if not yet fully understood, outside the British polity. The article looks at the current state of the single market, then highlights the impact of British withdrawal on economic governance, focusing on different market freedoms, given the degree of trade interdependence and integrated supply chains that have evolved in response to changes in goods and services. One of the lessons from Brexit negotiations is the importance of distinguishing between different single market(s) when assessing the impact of British 'exit' on member states. The concluding section focuses on the political safeguards of market integration to manage the relationship between the UK and EU, to illustrate how judicial, market, and institutional safeguards create options and constraints in mitigating the effects of 'exit'.