A Single European Market for all ELENA GRECH. The Single Market: a success story 1992-2006: approx.1 840 billion Euros in value added 2.75 million extra.

A Single European Market for all

ELENA GRECH

The Single Market: a success story

• 1992-2006:

approx.1 840 billion Euros in value added2.75 million extra jobs (1.4 % of total

employment)(figures do not include Services, where

there is a huge potential)

Remember …

• How much you used to pay for roaming charges a year ago – and how the Single Market has brought down prices

• How much you used to pay for a cross-border money transfer – now for free in most countries

Citizens

• Live, work, study, retire in other EU countries

• Wider choice of high-quality products & services

Businesses

• Almost 500 mio potential customers

• Less red tape – reduced costs thanks to an improved regulatory framework

• EU level playing field makingit easier to export worldwide

Photo: Marc Riboux

Today’s challenges…

• Enlargement – from 12 to 27 members

• Shift towards a services economy

• Social and environmental challenges (ageing, climate change, energy)

… the response: a new approach to Single Market policy

• “A Single European Market for All”

• A new approach• Focus on consumers …• … and small firms

Opportunities for consumers

Retail financial services

Improve consumers’ choice and confidence:

• facilitate switching of bank accounts

• improve ”financial literacy”

• a “basic bank account” for everyone

• mortgage credits, transfer of credit data

Opportunities for consumers

Strengthen consumer rights and redress

• Simpler and clearer contractual rights for consumers

• Collective redress

• A consumer scoreboard to monitor progress

Opportunities for small firms

Creating a Single Market for SMEs to grow and add jobs

• A European Private Company statute

• A European Small Business Act

Making Globalisation deliver for Europe

Using the Single Market to defend the EU’s competitiveness and promote its values

world-wide :• Expanding the “competitive space” of the

Single Market• Setting rules and standards• Ensuring that benefits of trade reach EU

citizens.

Foster knowledge and innovation

• “e-single market”:set up e-invoicing, e-procurement;avoid “e-barriers”;

• Promote knowledge and innovation as the “fifth freedom”: Mobility of researchers;

• A modernised frameworks for e-communications, Intellectual Property Rights and fight against piracy.

An Assistance Service for Citizens

Help for citizens and firms to exercise their Single Market rights

• Networks between national administrations to sort out problems - SOLVIT

• Creating a single gateway to advice / problem-solving for citizens and firms

www.europa.eu/solvit

To conclude:• The Single Market helps Europe to meet the

challenges of the 21st century.• It increases opportunities for people and

businesses and brings concrete benefits.• It is not just a means in itself; it is a means to

– advance the interests and values of Europeans in an area of globalisation;

– foster economic growth, which in turn – can deliver more jobs, – universal access to key services,– high social and environmental standards and – high levels of investment in research and education to prepare for the future.

Services of General Interest (SGI)

• Essential for daily life; ensure social, economic and territorial cohesion

• The Single Market helps to ensure that citizens have access to high-quality, accessible and affordable SGIs

• Continue pragmatic approach: modernise where necessary, provide guidance, monitor effects