Europe polar stereographic Caucasus Urals boundaryThe prevalent definition of Europe as a geographical term has been in use since the mid-19th century. Europe is taken to be bounded by large bodies of water to the north, west and south; Europe's limits to the far east are usually taken to be the Urals, the Ural River, and the Caspian Sea; to the southeast, including the Caucasus Mountains, the Black Sea and the waterways connecting the Black Sea to the Mediterranean Sea.[1]
Islands are generally grouped with the nearest continental landmass, hence Iceland is generally considered to be part of Europe, while the nearby island of Greenland is usually assigned to North America. Nevertheless, there are some exceptions based on sociopolitical and cultural differences. Cyprus is closest to Anatolia (or Asia Minor), but is usually considered part of Europe both culturally and politically and is a member state of the EU. Malta was considered an island of North Africa for centuries.[2]
EU Single Market The Common Market is an informal term that was used to refer to the original European Economic Community (EEC). In general, a common market is a trade policy that aims to eliminate trade barriers among participating countries as a precursor to the realisation of a single market. In Europe, a common market was created with the formation of the EEC in 1957, but a single market was not achieved until 1992-1993 with the foundation of the European Union.[4][5]
The European Economic Area (EEA) is the area which incorporates states that have signed up to the EEA Agreement. It was established in 1994. Membership is open to member states of either the European Union (EU) or European Free Trade Association (EFTA). The EEA currently has 31 members, including all 28 EU member states and three of the four EFTA member states.
EFTA states which are party to the EEA Agreement can participate in the European Single Market without being members of the EU. In general, EEA members adopt certain EU rules (four freedoms free movement of persons, goods, services and capital), but have exclusions (such as laws regarding agriculture and fisheries).
The European Free Trade Association was formed in 1960 as an alternative trade bloc for seven European states, known as the Outer Seven, that were unable or unwilling to join the European Economic Community (EEC). Additional member states have since joined, while several other states caesed to be EFTA members when they joined the EEC or the EU. Today EFTA has four members and operates in parallel with the much larger European Union (EU). All EFTA member states participate in the European Single Market but are not party to the European Union Customs Union.
In 2009, under the Treaty of Lisbon, the EC's institutions were absorbed into the EU's wider framework and the European Community ceased to exist as an entity.
In 1993, a complete single market was achieved, known as the internal market, which allowed for the free movement of goods, capital, services, and people within the EEC. In 1994, the internal market was formalised by the EEA agreement. This agreement also extended the internal market to include most of the member states of the European Free Trade Association, forming the European Economic Area covering 15 countries.
EU Single Market A single market requires the free movement of goods, people, capital and services (see The EU common market and Internal market). the realization of a single market was only achieved in 1992-1993
^Microsoft Encarta Online Encyclopaedia 2007. Europe. Archived from the original on 31 October 2009. Retrieved 27 December 2007.{{cite encyclopedia}}: CS1 maint: numeric names: authors list (link)
^Falconer, William; Falconer, Thomas. Dissertation on St. Paul's Voyage, BiblioLife (BiblioBazaar), 1872. (1817.), p 50, ISBN1-113-68809-2These islands Pliny, as well as Strabo and Ptolemy, included in the African sea
