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Discuss the impact of the Single European Market (SEM) on Irish business - Leaving Cert Business - Question 3 - 2008
Question 3
Discuss the impact of the Single European Market (SEM) on Irish business. Explain the functions of any two of the following European institutions. (i) The European... show full transcript
Worked Solution & Example Answer:Discuss the impact of the Single European Market (SEM) on Irish business - Leaving Cert Business - Question 3 - 2008
Step 1
Discuss the impact of the Single European Market (SEM) on Irish business.
Answer
The Single European Market (SEM) has had a significant impact on Irish business through various avenues. Firstly, it has eliminated barriers to trade between member states, which allows Irish businesses to access a larger market without the hindrance of tariffs. This has increased competition and allowed consumers to have a wider range of choices.
Moreover, the SEM also facilitates the free movement of capital. This encourages investment in Irish companies as firms can relocate capital more freely within the EU. Consequently, Irish businesses can grow and become more competitive on an international scale.
In addition, the SEM promotes the free movement of people, enabling Irish businesses to hire skilled workers from other member states. This can alleviate skill shortages and increase labor market competition.
Lastly, the SEM has also led to more stringent regulations and standards, ensuring that Irish firms comply with EU regulations, which can sometimes be challenging notably for small businesses. However, this also enhances product quality and trust in Irish goods across the EU.
Step 2
Explain the functions of any two of the following European institutions.
Answer
(i) The European Parliament: The European Parliament plays a critical role in the EU legislative process. It is responsible for approving EU legislation proposed by the European Commission. Parliament discusses proposed laws, amends them, and monitors the implementation of legislation throughout member states. Additionally, it has significant budgetary powers, approving the annual EU budget and monitoring expenditure.
(ii) The Council of Ministers: The Council of Ministers, often simply referred to as the Council, consists of government ministers from each member state. It is a key decision-making body in the EU that decides on legislation, setting objectives based on the consensus among member states. It plays an essential role in the coordination of policies and represents the interests of each member state's government.
Step 3
In the context of the European Union (EU) distinguish between a Directive and a Regulation.
Answer
A Directive is a legal instruction for member states, outlining goals that must be achieved but allowing them the flexibility to choose how to implement measures to meet these goals. It sets a deadline for compliance but does not dictate the means of enforcement at a national level, thereby providing discretion to the member states.
Conversely, a Regulation is immediately enforceable across all member states without needing any national implementing legislation. It creates uniformity in EU law directly in every member state, ensuring consistency in how laws are applied.
As an example, the General Product Safety Directive is focused on ensuring that products placed on the market are safe, allowing member states to implement necessary measures, while the Electrical and Electronic Equipment Regulation directly applies without requiring any national laws.
Step 4
Choose one example of either and describe its purpose.
Answer
The General Product Safety Directive serves to protect consumers by ensuring that all products marketed in the EU meet strict safety standards. Its purpose is to eliminate dangerous products from the market and help maintain a high level of consumer protection. Member states are required to implement national measures that align with these EU directives, thereby ensuring that all products are assessed for safety before being offered to consumers.