Answers lesson 6

1) an association of countries trading with each other without restrictions or tariffs. E.g.: The
European single market came into effect on 1 January 1993
2) regulation: it is a binding legal act and it must be applied in its entirety across the EU.
directive: these are laws or regulations created by the EU that need to be interpreted into
national/ domestic law whereas regulations are enforced in their entirety.
decision: it is binding on those to whom it is addressed (e.g. an EU country or an individual
company) and is directly applicable.
recommendations/ opinions: These are not binding; there are no (direct) legal consequences
or legal obligations.
3) Harmonised sectors are fully regulated by Brussels and local autonomy/ sovereignty in these
sectors are minimised to a little.
4) the question whether the UK should stay in the EU or not was a political statement for
Cameron. If he succeeded in his question, his political career would be backed up strongly. It
was a strategic move to strengthen the political influence by the conservatives. It started
from article 50. After the Refenderum the parliament voted on March 2017.
5) No, the Brexit procedure started when article 50 was triggered after Theresa May wrote a
letter.
6) Britain does not have a constitution because they are not a single country. The UK comprises
of 4 different countries (Wales, England, Scotland and Northern Ireland) who have their own
government but are obliged to accept everything that is voted in the parliament. The
parliament in the UK voted for the Brexit.
7) It triggered article 50.
8) Uncertainty: the worst thing for business
Property funds: London property prices dropped. It is an investment fund where you can
invest in and there are managers who buy and sell property for you.
9) 1) Norwegian-style EEA agreement
2) Turkish-style customs union
3) FTA-based approach
4) Swiss-style bilateral accords
5) MFN-based approach
10) Cherry picking: the UK will just select the fines of rules. They will only pick out the deals that
are advantageous for them.
11) Eigen mening.