Europe must act to create more prosperity and jobs. And it must do this urgently in the wake of the financial crisis. That is why the European Commission adopted the Single Market Act, a series of measures to boost the European economy and create jobs.
Since 1992, the Single Market has brought tremendous benefits and created new opportunities. But free movement of goods, services, capital and people does not always happen smoothly. There is no truly integrated European market in some fields. Pieces of legislation are missing. And administrative obstacles and lacking enforcement leave the full potential of the Single Market unexploited.
Confidence in the Single Market also needs a strong boost to help stimulate economic growth. Europe needs to act with more force and conviction to show that the Single Market brings social progress and can be beneficial for consumers, workers and small enterprises.
The Single Market Act presented by the Commission in April 2011 set out twelve levers to boost growth and strengthen confidence. In October 2012 the Commission proposed a second set of actions (Single Market Act II) to further develop the Single Market and exploit its untapped potential as an engine for growth.