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The reality of integration within the european union
Author(s) -
Nicoll William,
Schoenberg Richard
Publication year - 1999
Publication title -
thunderbird international business review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.553
H-Index - 37
eISSN - 1520-6874
pISSN - 1096-4762
DOI - 10.1002/tie.4270410305
Subject(s) - legislation , european union , single market , diversity (politics) , circulation (fluid dynamics) , european integration , economics , politics , currency , international trade , international economics , political science , law , macroeconomics , physics , thermodynamics
The European Single Market program has put in place legislation that provides the free circulation of goods, capital, and people. Further, the recent implementation of monetary union provides a single currency and a common monetary policy in 11 out of the 15 Member States. Yet significant practical barriers to European integration remain. Legislation concerning taxation and company law is still primarily nationally based. More fundamentally from a business perspective, the European environment continues to be characterized by divergent industry structures and national cultures. Although there is considerable momentum for political and economic integration at present, this deep‐seated national diversity remains strong and can hinder businesses from adopting an integrated approach toward the European Union. © 1999 John Wiley & Sons, Inc.