This book focuses on the European Economic Area (EEA), an example of deep market integration between the European Union and non-EU member countries Iceland, Liechtenstein, and Norway. The EEA is, in fact, often referred to as the “internal-market-minus” (i.e. minus agriculture and fisheries), for the three countries. Generating a mere one percent of the EU single market GDP, the EEA has attracted little attention, not least because it functions quite well. Even less known, however, is the role of Liechtenstein within the EEA, which this book also attempts to clarify.
After 18 years of existence, the EEA is now undergoing a thorough review. This in-depth study looks at how the EEA works and what the current review of this economic area might imply. Nine scenarios of European integration are explored, with an analysis of their respective advantages, shortcomings, and costs. The book also discusses Liechtenstein’s critical and changing relationship with Switzerland, new options for Turkey, whether there should be more or less EU involvement, and an EEA-type option for the United Kingdom that would not entail amending the EEA Treaty.