A memory device comprising: a fixed magnetic layer; a tunnel barrier layer over the fixed magnetic layer; and a free magnetic structure formed over the tunnel barrier layer, wherein the free magnetic structure comprises: a first free magnetic layer having a first magnetic moment; a first interlayer in contact with the first free magnetic layer, the first interlayer being made of: a non-magnetic insulating material having a thickness in the range of approximately 0.1 to approximately 1 nm, or a non-magnetic conductive material having a thickness in the range of approximately 1.3 to approximately 1.5 nm; and a second free magnetic layer having a second magnetic moment, wherein the second free magnetic layer is ferromagnetically coupled to the first free magnetic layer and is in contact with the first interlayer; characterised in that the first free magnetic layer, the first interlayer and the second free magnetic layer form a ferromagnetic structure operable as a single free layer to be programmed by impinging a spin-polarized electron current on the free magnetic structure. a fixed magnetic layer; a tunnel barrier layer over the fixed magnetic layer; and a free magnetic structure formed over the tunnel barrier layer, wherein the free magnetic structure comprises: a first free magnetic layer having a first magnetic moment; a first interlayer in contact with the first free magnetic layer, the first interlayer being made of: a non-magnetic insulating material having a thickness in the range of approximately 0.1 to approximately 1 nm, or a non-magnetic conductive material having a thickness in the range of approximately 1.3 to approximately 1.5 nm; and a second free magnetic layer having a second magnetic moment, wherein the second free magnetic layer is ferromagnetically coupled to the first free magnetic layer and is in contact with the first interlayer; characterised in that the first free magnetic layer, the first interlayer and the second free magnetic layer form a ferromagnetic structure operable as a single free layer to be programmed by impinging a spin-polarized electron current on the free magnetic structure. a first free magnetic layer having a first magnetic moment; a first interlayer in contact with the first free magnetic layer, the first interlayer being made of: a non-magnetic insulating material having a thickness in the range of approximately 0.1 to approximately 1 nm, or a non-magnetic conductive material having a thickness in the range of approximately 1.3 to approximately 1.5 nm; and a non-magnetic insulating material having a thickness in the range of approximately 0.1 to approximately 1 nm, or a non-magnetic conductive material having a thickness in the range of approximately 1.3 to approximately 1.5 nm; and a second free magnetic layer having a second magnetic moment, wherein the second free magnetic layer is ferromagnetically coupled to the first free magnetic layer and is in contact with the first interlayer; characterised in that the first free magnetic layer, the first interlayer and the second free magnetic layer form a ferromagnetic structure operable as a single free layer to be programmed by impinging a spin-polarized electron current on the free magnetic structure.