The European Commission has liberalized the telecoms market and developed common standards like the GSM standard. The telecom business is very competitive today, generating €125 billion a year in Europe. When you travel abroad, the mobile charges are very high, and the European Commission has proposed a regulation to lower these charges. Wireless networks and applications are popping up everywhere, and in some places you can use your phone as a tourist guide, for GPS guidance and information, or as an electronic wallet with maximum security.