Web-Companion Essential EU Law in Text: Suggested solutions to the exercises

Please find hereinafter the suggested solutions to the 64 exercises contained in the book "Tobler/Beglinger, Essential EU Law in Text, 5th edition, HVG-ORAC 2020, ISBN 978-963-258-490-4".  To give you an idea how the exercises in the book are phrased, they have been added for the first three instances. Any comments or feedback are welcome.

Showing only entries concerning chapter Part 2, A. IV. 3.. View all entries

Basic economic law of the EU – Introduction – Exercise 3

Page: 56 Chapter: Part 2, A. IV. 3.

Suggested solution:

According to Art. 28(1) TFEU, the EU comprises a customs union (see above, question 2). Further, within the system of the EU, the internal market is a means to achieve the objectives of the Union (Art. 3(3) TEU) and so is the Economic and Monetary Union (Art. 3(4) TEU). The exercise question may also be used as an invitation to readers to look for Treaty provisions with further information about the meaning of these terms.

According to Art. 26(2) TFEU, the internal market comprises an area without internal frontiers in which the free movement of goods, persons, services and capital is ensured in accordance with the provisions of the Treaties.

As for the EMU, according to Art. 119(1) TFEU the economic policy of the EU is based on the close coordination of Member States’ economic policies, on the internal market and on the definition of common objectives and it is conducted in accordance with the principle of an open market economy with free competition. The ultimate stage of the EMU is a single currency, namely the euro. However, in order to participate at this last level, the Member States must meet certain economic criteria. That is not yet the case for some of the Member States. Some Member States did not wish to join, even though at the time when the euro was introduced they did meet the criteria (however, they are still part of the EMU, just not of its last stage). Therefore, the euro is an example of differentiated integration. According to Art. 119(2) TFEU, the single currency is accompanied by a single monetary policy and an exchange rate policy, the object of both of which is to maintain price stability and support of the general economic policies in the Union, in accordance with the principle of an open market economy with free competition.

[Relevant Charts: Chapter 7, in particular Charts 7/4-7/5]



Published: 13 July 2010