1 It’s a better life …the benefits and challenges of the EU’s single market John Wyles. Partner, GPlus Europe Senior Adviser, European Policy Centre

2 single market freedoms people – leisure, work biz, retire goods – little red tape, light customs services capital – no limits freedom is relative not yet absolute

3 delors inspiration 1992 programme A cure for eurosclerosis 280 laws meant less red tape single act (1986) passed more power to Brussels Importance of mutual recognition of regs

4 Gains Extra 2.15% gdp; 2.75m jobs; euro 877bn extra wealth + €518 per citizen GDP rise in 2006 Global player: Exports Euro 415bn to Euro 985bn Inward investment 4X higher Outward Euro 18bn to Euro 206bn

5 more gains saved €5bn a year for traders and hauliers €1.5-2bn a year telecom savings Made Ryanair possible 15m in another country to work or retire

6 More benefits Easier travel More efficient single market – costs less to do business, stability and certainty More efficient financial markets = cheaper credit Stronger role in the world

7 Single market upgrade November 2007 Commission promised: telecoms reform package for better and cheaper communication services better deals for consumers from financial services – esp. banking and insurance Overhaul of European consumer protection law Better delivery of benefits to small business Boost development and dissemination of knowledge e.g. a European passport for researchers Streamlining rules on electronic signatures

8 Not working so well More dynamic, competitive economy - No Services – only 20% of intra-EU trade Network industries (rail, energy etc) poorly integrated Public procurement still very national – only 16% publicly advertised and open to x-border trading

9 spin-offs euro Schengen New powers on crime and justice capital markets integration

10 Economic recovery/financial regulation Ratify reform treaty (Lisbon Treaty) Progress “Lisbon agenda” Climate change talks Better regulation – 25% cut in red tape by 2012 = 1.5% boost to gdp 2009 agenda