The aim of the European Union is political union through economic means. A critical issue is the applicant's transition to a full market economy and whether this has developed sufficiently for membership. A market economy requires that prices should normally be set by market forces rather than by government. It implies that there should be private ownership of the means of production, with individuals and companies deciding how these are to be used, and a legal system that enables property rights to be enforced. There must be competitive markets and well-developed private capital markets in which finance can be raised and collateral taken in the event of default. A functioning market economy requires an efficient property market in which real estate can be purchased, sold, rented and used as collateral for loans. This includes agricultural land and natural resources as well as residential, commercial and industrial land and buildings. Otherwise, there can be no free movement of labour or enterprises or free mobility of capital. Restrictions on the ownership or renting of real estate limit the movement of people, businesses and investment...more >>

Source:

http://www.fao.org/docrep/009/a0464e/A0464E05.htm
plus Appendix in
http://www.fao.org/docrep/009/a0464e/A0464E13.htm