A European Single Market for All Jacqueline Minor, Director, Horizontal Policy Development, Directorate General For the Internal Market and Services European.

A European Single Market for All

Jacqueline Minor, Director, Horizontal Policy Development,Directorate General For the Internal Market and ServicesEuropean Commission

• What is the Single Market?

• Why a review of Single Market policy?

• “The Single Market in 21st Century Europe”

• A shift in focus

The “Four freedoms”

An area without internal frontiers where

• persons

• goods

• services

• capital

can circulate freely.

The Single Market: a success story

• 1993-2006:

over 1 000 billion Euros in value added (2.2% of GDP)

2.75 million extra jobs (1.4 % of total employment)

(figures do not include Services, where there is a huge potential)

Photo: Marc Riboux

Then, and now

• Enlargement – larger and more diverse EU

• Globalisation

• New technological developments

• Changing social and environmental context (ageing, climate change, energy)

• Need to reconnect with citizens

Consultation results…

• Wide support for the Single Market• But:

– Often perceived to be an affair of ‘big business’ only– Citizens / businesses unaware of the Single Market’s

potential, and insufficiently ‘empowered’ to make full use of it

– Concerns about the globalisation– Application & enforcement of rules at the national

level leaves much to be desired

… the response: a new approach to Single Market policy

• More impact driven policy, focusing on markets where biggest problems remain and on real benefits for all (example: retail financial services)

• Responding better to globalisation : using the Single Market to defend the EU’s competitiveness and promote its values at a world-wide level

• Make the Single Market work better in practice – through improved ‘partnerships’ with Member States

Delivering for consumers…

Retail financial services: • Mortgage credits• Improve customers’ choice and mobility

(e.g. facilitate switching of bank accounts)• Improve ”financial literacy”

Strengthen consumer rights and redress: • New laws on consumer contractual rights• Collective redress

…and businesses (especially small firms)

• European Small Business Act for SMEs

• European Company statute

Facing up to globalisation

Europe can be a winner:• Expanding the “competitive space” of the Single

Market – through more & better targeted free trade agreements

• Expanding the EU’s regulatory reach : setting rules and standards worldwide

• Ensuring that benefits of trade reach EU citizens

Make the rules work on the ground

A renewed ‘partnership’ to make the Single Market work: – Improving networking between national governments

and exchanging ‘best practices’ with applying Single Market rules

– Improving cooperation between administrations through IT networks offering translation facilities

– Ensuring better coordination and more visibility at the national level – through promoting ‘Single Market Centres’

– Creating a single gateway to advice / problem-solving services

www.europa.eu/solvit

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

To conclude:• The Single Market equips 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.