Ask Britons what the European project means to them, and most will quickly point to the single market and the euro. Even if much else about the EU puzzles them, most can readily relate to the single market, the one part of the European project that has most clearly changed their lives and that has the widest support. The euro, meanwhile, was intended to be the glue that held the single market together, clearing the path to the final achievement of Europes famous four freedoms: the unrestricted movement of people, money, goods and services. There has been a great deal to celebrate in the single market, and the benefits of a single currency will become clear again once the problems of the euro have been resolved. But both initiatives have suffered from a distinct lack of political courage: too many barriers remain to the single market, and not enough has been done to provide the euro with the features it needs to be a real success.
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