Modernising and deepening the single market: 12 new growth priorities

The Single Market Act II aims to boost economic growth and jobs for 500 million Europeans. Its 12 key actions cover integrated networks, mobility and the digital economy, plus social entrepreneurship and consumer confidence.

ACT

The European Commission communication on the Single Market Act II ‘Together for new growth’ (COM(2012) 573 final of 3 October 2012 - not published in the Official Journal).

SUMMARY

The communication on the Single Market Act II 'Together for new growth' focuses on developing the single market still further, in order to promote economic growth, social cohesion and job creation. Its adoption by the European Commission in October 2012 marked the single market’s 20th anniversary.

The single market is a common area that enables goods, services, capital and persons to move around freely between the 28 EU Member States. It also ensures that citizens are free to live, work, study and do business wherever they want in the EU.

The single market generated some 2.8 million extra jobs and an additional 2.13 % in GDP between 1992 and 2008. It also enables European consumers to enjoy more choice at lower prices.

12 key actions

The Single Market Act II’s key actions are grouped under these four titles:

• developing fully integrated networks in the single market (e.g. railways, maritime transport, aviation, energy);
• enhancing themobility of citizens and businesses across borders (e.g. EURES portal for jobs, access to finance for companies, long-term investment funds);
• supporting the digital economy across Europe (e.g. online payment, broadband networks, electronic invoicing);
• strengthening social entrepreneurship, cohesion and consumer confidence (e.g. safer products, access to banking for all).

The Single Market Act II builds on the first Single Market Act of 27 October 2010.

Implementation of the Single Market Act

last update 09.03.2014