Русско-англо-русский юридический словарь

A currency union (also known as monetary union) is where two or more states share the same currency, though without there necessarily having any further integration such as an Economic and Monetary Union, which has, in addition, a customs union and a single market. (Wikipedia)

A single market is a type of trade bloc in which most trade barriers have been removed (for goods) with some common policies on product regulation, and freedom of movement of the factors of production (capital and labour) and of enterprise and services. (Wikipedia)

Britain’s upper house of parliament on Tuesday inflicted another defeat on Prime Minister Theresa May’s government, voting in favour of staying in the European Union’s single market. (Reuters)

The European Union (EU) is a political and economic union of 27 member states that are located primarily in Europe.[8] The union has a total area of 4,233,255.3 km2 (1,634,469.0 sq mi) and an estimated total population of about 447 million. An internal single market has been established through a standardised system of laws that apply in all member states in those matters, and only those matters, where the states have agreed to act as one. (Wikipedia)