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Issue 14 | July 2012

More growth through better single market governance and boosting services

The Single Market is a key driving force behind economic growth but to deliver growth and jobs, better implementation of existing rules is essential. This is why the European Commission has adopted a Communication on governance to ensure that Single Market rules work better in practice. The Commission is also proposing measures to improve the way the services sector works, which is vital as the Services Directive accounts for more than 45% of EU GDP.

"Small and medium-sized enterprises tell me that there are still obstacles to how they operate in the European Single Market. The Commission and Member States must work hand in hand to improve the way Single Market rules are implemented, applied and enforced. Economic growth is at the top of our agenda and we should not miss a single opportunity to promote it."

Latest news »« TOP
New crisis management measures to avoid future bank bail-outs

The measures ensure that in the future authorities will have the means to intervene decisively both before problems occur and early on in the process if they do. Furthermore, if the financial situation of a bank deteriorates beyond repair, the proposal ensures that a bank's critical functions can be rescued while the costs of restructuring and resolving failing banks fall upon the bank's owners and creditors and not on taxpayers.

More information
Commissioner Michel Barnier welcomes the agreement reached on an international treaty for the protection of artists in the audiovisual sector

The Member States of the World Intellectual Property Organisation (WIPO) have signed a treaty on the protection of audiovisual performances. The new treaty establishes rules ensuring the adequate protection and remuneration of actors and allowing their performances to be made available, whether they are distributed on physical media (such as DVDs) or on the internet.

More information

The single market is a major strength and an opportunity for all European countries

"The Commission has decided to adopt a second installment of the Single Market Act after the summer, coinciding with the celebration of the 20th anniversary of the creation of the single market." Speech by Commissioner Barnier to the Committee on Internal Market and Consumer Protection (IMCO) in the European Parliament.

Read the Speechfr
Financial regulation, growth, competitiveness, integration: Europe at a crossroads

"Europe is at a crossroads. If we want to avoid the temptation of populism and disintegration, we have no choice but to move increasingly towards common goals, policies and rules." Speech by Commissioner Barnier at the 18th International Economic Forum of the Americas, Montreal.

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Orphan Works Directive: Commissioner Barnier welcomes trilogue agreement by Council and Parliament

Orphan works are those which are protected by copyright, but whose creators cannot be identified or found. The new Directive on orphan works will provide public libraries and museums with the appropriate legal framework to digitise, preserve and put on-line the cultural treasures they have in their collections.

Read the statement
Insurance reforms: putting the European economy back on the path towards sustainable growth

"We must restore confidence in the ability of the financial system to channel funding towards the real economy over the long term while protecting investors and consumers. By moving in this direction, our proposals on Solvency II, insurance intermediaries and occupational pensions institutions give us an opportunity to help put the European economy back on the path towards sustainable growth". Speech by Commissioner Barnier at the Insurance Europe Conference.

Read the Speech

Visits and Missions »« TOP
Commissioner Barnier, Response to the European Parliament, Brussels - June 21 2012

Commissioner Barnier appeared before the Committee for Internal Market and Consumer Protection (IMCO) European Parliament for a structural dialogue. In his speech, the Commissioner addressed the main issues for current or future negotiations for which IMCO is responsible: the "quick wins", or appropriate measures that can be mobilized immediately for growth; the Services and Governance packages, adopted on June 8 by the Commission and measures to deepen the Single Market.

Commission Barnier, ECOFIN Council, Luxembourg – June 21/22 2012

Commissioner Barnier travelled to Luxembourg to attend the meeting of the Economics and Finance Ministers the European Union. At this ECOFIN summit, the participants prepared the next meeting of the Eurogroup, and discussed proposals to create a banking Union within the EU. They also raised the issue of tax on financial transactions and prepared the next European Council of June 28 and 29.

Consultations »« TOP
04.06.2012  -  05.09.2012e-CommerceA clean and open internet: public consultation on procedures for notifying and acting on illegal content hosted by online intermediaries
News from the Parliament »« TOP
Strasbourg plenary week (June 11 - 14 2012)
  • Future of the Single Market Act (Commission statement)
    The statement announced that the second phase of SMA was going to happen late this summer. Many MEPs including Ms. Gebhardt (S & D, DE) and Le Grip (EPP, FR), highlighted the benefits of the Single Market and encouraged Michel Barnier in his comprehensive approach.
  • Future of European company law
    In response to Commissioner Barnier's speech outlining his intentions for the work on the future of European company law, as well as corporate governance, Lehne (EPP, DE) described the Commission as "sleeping beauty that you [Michel Barnier] have come to wake. " On the SPE, Lehne called for enhanced cooperation.
  • Joint debate – Multiannual financial framework and own resources
    President Barroso called in the EP for an inter-institutional agreement on growth at the upcoming European summit. The Commission and most of the EP want a stronger economic and monetary union (EMU), along with a banking union. They also want a serious EU budget for 2014-2020 to meet the needs of Europe's social and economic priority policies.

See also:
Website: IMCO (Internal Market Committee)
Website ECON (Economic and Monetary Affairs Committee)

Latest publications »Question of the Month »
Single Market News
Issue 63 (2012-I)

Making the Single Market deliver: Annual governance check-up 2011

Single Market Act - Together for new growth

Restoring the health and stability of the EU financial sector

Do you agree that the Single Market is a key driving force behind economic growth?


Results from the last month:
Do you agree with the new stricter rules on capital, liquidity and governance proposed for banks and investment firms?
YES - 88%
NO - 12%

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