| Author (Corporate) | European Commission: Press and Communication Service |
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| Series Title | Press Release |
| Series Details | IP/00/76 (27.1.00) |
| Publication Date | 27/01/2000 |
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Today's broadly favourable global economic climate offers Europe a golden opportunity to enhance durable economic growth and employment by raising its overall competitiveness. To do that, according to a report adopted by the European Commission 27.1.00 the European Union must intensify economic reforms designed to develop dynamic, integrated, efficient markets supportive of entrepreneurship and innovation, whilst fully respecting Member States' social goals. The report uses quantitative assessments of the performance of European product and capital markets to identify where regulatory and structural reforms are most urgent, and outlines a certain number of explicit policy prescriptions designed to reduce market fragmentation. 'Economic reform requires reinforcement of the Internal Market as the cornerstone for the EU's microeconomic policies,' said Frits Bolkestein, European Commissioner responsible for the Internal Market. 'Despite significant improvements in the last few years, European markets remain too fragmented, especially in the services sector. We must build a dynamic business environment where entrepreneurship can turn technological and investment opportunities into new jobs'. The report is the Commission's second annual contribution to the exercise launched at the Cardiff European Council in 1998. Together with thematically-related national reports produced by Member States, it will provide input for the preparation of the next Broad Economic Policy Guidelines and for the review of Internal Market Strategy (see IP/99/728) target actions. It is also designed to contribute significantly to preparing the special Lisbon European Council on economic reform scheduled for 23-24 March 2000. |
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| Source Link | Link to Main Source http://europa.eu/rapid/pressReleasesAction.do?reference=IP/00/76&format=HTML&rapid=0&language=EN&guiLanguage=en |
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| Subject Categories | Economic and Financial Affairs, Internal Markets |
| Countries / Regions | Europe |
