| Author (Corporate) | European Commission |
|---|---|
| Series Title | COM |
| Series Details | (2015) 550 final (28.10.15) |
| Publication Date | 28/10/2015 |
| Content Type | Policy-making, Report |
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The Single Market is one of Europe’s great achievements. In the past 50 years, it has generated new opportunities and economies of scale for European companies that have strengthened industrial competitiveness, it has created jobs and offered greater choice at lower prices for consumers and it has enabled people to live, study and work where they want. It has contributed to better integrating EU firms into international value chains and strengthening the global competitiveness of European companies. But the EU and the Single Market need to adapt to a changing environment. Europe is facing economic and social challenges. The economic and financial crisis has tested our economies and created immense social costs. Unemployment remains stubbornly high across Europe, particularly among the young people who should be the heart of Europe’s vitality. Low levels of growth have affected people’s confidence in Europe. Inadequate levels of investment and obstacles in product and services markets have hampered productivity and the competitiveness of the European economy. Businesses often feel stifled by outdated and excessively burdensome regulations and unable to find the information that they need. At the same time, innovation and global value chains are generating major new opportunities. Digital technologies are transforming many industrial sectors, leading to more efficient production and new, innovative business models. Manufacturing and services are increasingly being merged into smart and clean business offers that provide greater value added for customers. But this innovation is also challenging traditional business models and established relationships between consumers and business operators. The Single Market needs to be revived and modernised in a way that improves the functioning of the markets for products and services and guarantees appropriate protection for people. This Strategy aims to achieve that. It is made up of targeted actions in three key areas: Its focus is on practical measures helping small and medium-sized enterprises (SMEs) and start-ups to grow and expand, promoting innovation, unlocking investments and empowering consumers. These measures complement a number of sectoral initiatives, such as for example, initiatives improving the functioning and enforcement of the Single Market for road transport. They are underpinned by economic evidence, focussing on the economically most important obstacles. The legislative actions will be subject to further impact assessment work, which will then be the basis for the Commission’s final decisions. |
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| Source Link | Link to Main Source http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=COM:2015:550:FIN |
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| Subject Categories | Internal Markets |
| Countries / Regions | Europe |
