MEPs reach consensus on relaunch of the Single Market

In adopting three Reports on the Single Market Act on 6 April with an overwhelming majority of almost 600 votes, Parliament managed to speak loud and clear. It has expressed strong support for the relaunch of the Single Market. This had appeared far from granted after the IMCO (Internal Market Committee) vote on 16 March when political groups had failed to agree on a compromise on workers rights and services of general interest, causing socialist and green MEPs to abstain on the three reports. Active discussions between key actors followed and finally resulted in a consensus.

Malcolm Harbour MEP and IMCO Chairman:
"The European Parliament has been a champion for the Single Market Act. Under the leadership of the Internal Market and Consumer Protection Committee, MEPs have highlighted the untapped opportunities for consumers, citizens and enterprises in the world's largest "Single Market". The Single Market Act sets out clear targets to revitalise Europe's economy in a "partnership for growth".

See also:
Interview with Malcolm Harbour on the Single Market
Website: IMCO (Internal Market Committee)
Website ECON (Economic and Monetary Affairs Committee)

Industry signed Memorandum of Understanding on the fight against counterfeit goods sold online

On May 4, the European Commission hosted the signing of a Memorandum of Understanding on the sale of counterfeit goods over the Internet. Major internet platforms such as eBay and right holders from a wide variety of industry sectors signed. Signatories included the fast moving consumer goods industry as well as those producing luxury goods, wines and spirits, toys, sporting goods, consumer electronics, film, software and games. The Memorandum confirms the commitment of right holders and internet platforms to work together to fight the sale of counterfeit goods online.

One European Patent for 25 countries radically reduces costs and red tape

The European Commission tabled a revolutionary package on unitary patent protection on 13 April. After a transitional period, the costs for obtaining a European patent with unitary effect in 25 Member States would be reduced to approximately €4 700, in comparison to having to pay about €36 000 for obtaining a patent in 27 Member States now. The Commission hopes Spain and Italy will eventually join the enhanced cooperation.

DG MARKT's new organigram

DG MARKT's organigram has changed, to strengthen policy coordination and give more focus to certain areas of work. In accordance with the Commission mobility rules, several heads of units have moved to different units after the reorganisation. DG MARKT has taken the opportunity to change some units' titles to make them more understandable to stakeholders.

Three years added to transitional periods for buying agricultural land in Lithuania and Slovakia

The Commission granted Lithuania and Slovakia a three-year extension to their transitional period for agricultural land purchase until 2014 as it did to Hungary and Latvia earlier. The transitional period prohibits the purchase of agricultural land by EU citizens who are not Lithuanian or Slovak as an exception to the free movement of capital. The two Member States have requested an extension as they felt lifting the restrictions now would lead to serious disturbances of their agricultural land markets. However, the Commission calls on Lithuania and Slovakia to speed up their efforts to complete structural agricultural reforms and prepare their markets for full liberalisation.

2 May: European Central Bank and European Commission hold joint conference to strengthen the foundations of integrated and stable financial markets

The conference featured a number of top-level financial market participants, regulators, academics and political leaders discussing the future of European financial markets in the wake of the establishment of the new supervisory architecture in Europe.

Commissioners Rehn and Barnier stressed that Europe has taken decisive and comprehensive action to defend financial stability: "A strong and independent new supervisory architecture will establish the European perspective, across individual financial institutions and across national borders. It provides the necessary means to effectively address the ever closer link between micro- and macro-prudential issues in an integrated financial market. ".

Vice-President Vitor Constâncio emphasized that: "the establishment of the European Systemic Risk Board and the European Supervisory Authorities in the EU is an important milestone that should provide the appropriate incentives to avoid excessive risk taking and contribute to creating a level playing field, benefiting the financial integration within the monetary union".

Two reports were officially launched at the conference:
The ECB "Report on Financial Integration in Europe" and the Commission's "Financial Stability and Integration Report".

Commissioner Barnier visits Bucharest

31 March 2011

Commissioner Barnier visited Bucharest in the context of his 'tour of EU capitals'. He told Romanian authorities to urgently modify their current law on Public-Private Partnerships, which he described as manifestly in breach of the EU public procurement rules. However, the Romanian government retorted that additional procedural requirements imposed on Romania to ensure the regularity of public expenditure were overly burdensome and almost discriminatory. He warned that the inevitable multiplication of actors would make the system even more prone to bribing as well as slower and more inefficient. Plans to send a Commission Task Force to evaluate difficulties on the ground were agreed on.

Another topic was the highly problematic situation of "brain drain" currently affecting Romania for professions such as doctors and computer engineers, who are emigrating to practice in France and Germany. Dramatic consequences are expected for Romania's health sector with hospitals at risk of having to close for a lack of qualified staff. Michel Barnier insisted on the importance of building greater administrative capacity in all relevant sectors.

Commissioner Barnier visits Stockholm

14 April 2011

In Stockholm, Commissioner Barnier participated in a televised parliamentary debate on the topics of crisis management and resolution frameworks for banking. The Commission welcomed the input given by Swedish authorities on these subjects and emphasized that Europe can learn invaluable lessons from the Swedes, especially on how they handled their banking crisis in the nineties. The challenge for the EU is to find a resolution system that has the necessary tools to manage financial entities in difficulty without having to call on the taxpayer and without jeopardizing financial stability. "Our banking system should not continue to privatize profits and make the taxpayer bear the losses." Michel Barnier said.

Jonathan Faull and Nadia Calviño visit the US

26-29 April 2011

DG MARKT's Director General Jonathan Faull and Deputy Director General Nadia Calviño visited Washington DC and New York between 26 and 29 April. They had meetings with representatives of the US Treasury Department, the Federal Deposit Insurance Commission (FDIC), the Securities and Exchange Commission (SEC) and Commodities and Futures Trading Commission (CFTC), the Public Company Accounting Oversight Board (PCAOB), the US Trade Representative, Congress and the financial services industry. They discussed in particular the progress on strengthening and improving regulation of the financial sector agreed at the G20 level, including the regulation of banks, credit rating agencies, auditing companies, derivatives and trading venues. Detailed discussions took place on the timing and content of these initiatives in the EU and the US. Further issues discussed were protection of intellectual property rights and reciprocity in public procurement.