EU plans deeper single market

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The Single Market is considered by many as the biggest European achievement since the Union was created. It was born 20 years ago to ensure EU citizens can live, work, study or shop in any country. With more than 500 million consumers, EU businesses are also free to sell their goods and services anywwhere across the continent.

Today, the European Commission believes that the single market holds the key to get Europe out of the crisis. European Commission’s vice-president Michel Barnier on Wednesday put forward new proposals to further develop the single market. The plan aims at increasing growth, employment and confidence in the EU.

‘I am very happy to confirm that this morning, the college adopted the Single market act II. This is a collective piece of work and it is a very important piece of work. It is the follow up to the first stage of the single market act which we presented a year ago in a context of very lucid diagnosis of the internal market which Mario Monti had carried out’, said Commissioner for Internal Market Michel Barnier.

Improving cross-border mobility of citizens and business across Europe or the digital economy are some of the new proposals. Barnier expects five of the 12 proposals to be adopted by the end of the year “if there is political will”.

‘Now, we think that 5 of these 12 proposals, if the political willing is there in the Council and the Parliament, these five could be adopted by the end of this year; the one on patent, strengthen cooperation, the risk capital passport, the investment fund for social entrepreneurship and the proposal on alternative conflict settlement and the directive on the counting standards’, said Commissioner for Internal Market Michel Barnier.

The first Single Market Act was adopted in April 2011 as a response to the economic crisis. Some of its proposals are still being discussed by Parliament and ministers.

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