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![Page 1: A European Single Market for All Jacqueline Minor, Director, Horizontal Policy Development, Directorate General For the Internal Market and Services European.](https://reader035.fdocuments.net/reader035/viewer/2022062511/551524d455034673228b5246/html5/thumbnails/1.jpg)
A European Single Market for All
Jacqueline Minor, Director, Horizontal Policy Development,Directorate General For the Internal Market and ServicesEuropean Commission
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• What is the Single Market?
• Why a review of Single Market policy?
• “The Single Market in 21st Century Europe”
• A shift in focus
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The “Four freedoms”
An area without internal frontiers where
• persons
• goods
• services
• capital
can circulate freely.
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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)
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Photo: Marc Riboux
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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
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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
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… 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
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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
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…and businesses (especially small firms)
• European Small Business Act for SMEs
• European Company statute
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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
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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
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www.europa.eu/solvit
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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
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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.