It was in 1992 that the then called EEC created the Single Market, which came into effect on 1 January 1993. Since then, much has been done. But, as a conference held in the European Parliament on Monday heard, much more needs to be done.

The Single Market can give a real boost to economic growth in Europe at a time when growth is sorely needed, but at the same time, current austerity measures can actually kill the Single Market and some calls for greater protectionism could undermine all that has been achieved in these past 20 years.

Twenty years ago, the Internet had barely started, the today all-important social media were not even a glimmer in their inventors’ minds and Europe was dominated by people such as Jacques Delors, Margaret Thatcher, Helmut Kohl, Giulio Andreotti and the like.

One thing that impressed me at the conference was that even the Commission itself and the EU offices tend to downplay the Single Market’s achievements.

A handout by the European Parliament, for instance, thus listed the achievements:

cheaper calls abroad

more rights for passengers

helping service suppliers to trade across borders

safer toys for children

citizens’ savings better protected.

But it had to be a participant from Denmark to remind the conference that 20 years ago, Europe was criss-crossed by borders and, those especially who had land borders had to wait a lot to cross each border, showing passports and awaiting clearance by customs. Today, all that is the past and will (hopefully) not return.

Here, anyway, are the Top 5 single market gains according to the European Parliament:

Cheaper calls abroad

The EU mobile roaming regulation of May 2007 cut the cost of making and receiving mobile phone calls abroad for at least 140 million users. An SMS cost 11 cents in June 2009, it is now 9 cents and will cost 6 cents as from July 2014. A downloaded megabyte today costs 70 cents, will cost 45 cents as from next summer and 20 cents as from July 2014.

More rights for passengers

As from 2005, passengers travelling by air, rail, water and road in the EU enjoy uniform protection of their rights, such as compensation, immediate and proportionate assistance in the event of delay or cancellation, and equal access to means of travel.

Helping service suppliers to trade across borders

Since the end of 2009, service providers, from travel agents to office maintenance staff, can trade anywhere in the EU without needing to establish a new business in each EU country.

Safer toys for children

At the end of 2008, the European Parliament voted in the world’s strictest toy legislation.

Citizens’ savings better protected

If an EU bank fails, each citizen’s savings there are protected by up to € 100,000, up from € 20,000 as it was in 2008.

Facts about the single market

500 million people

World’s largest economy

GDP = EUR 12.6 trillion

Adding EUR 600 billion a year to Europe’s economy

3 million new jobs created

2.5 million Erasmus students

More competition

Accounts for 20% of global exports and imports

Wider choice of goods and services

Price airline tickets dropped by 40%

6 million people working in another member state

EUR 2,800 billion traded in goods in 2011.

The aim of the conference, as made clear from the very beginning by Commissioner Michel Barnier, was not to celebrate, nor to wallow in nostalgia but to assess its current state and to look ahead at the challenges facing it.

Commission President Joe Manuel Barroso kicked off by remarking that the single market is bigger than the US. It is not perfect, nor complete.

Its creator, Jacques Delors, was meant to come but old age kept him away and his message was read by M Barnier. Delors insisted on the social dimension of the EU and the single market.

Italian Prime Minister Mario Monti, who as Commissioner, had drawn up a comprehensive report about the state of the single market, made a video call from Italy. He warned that the single market can be rolled back and even disintegrate unless all stakeholders move together to deepen and improve it. The crisis has affected the single market – banks have stopped lending to each other, and there are many calls to raise barriers between countries.

The conference’s title itself, ‘Together for new growth’, pointed out that a refreshed single market could perhaps kickstart the EU economies from the impacts of the crisis. This was discussed by a panel of speakers which included Commissioner John Dalli and MEP Louis Grech, Vice-Chairman of the Internal Market and Consumer Protection committee of the European Parliament, who had been Mario Monti’s counterpart in the discussions between the Commission and the Parliament some years back (and who was singled out for special mention by Mr Monti himself in his video-speech).

The results of various surveys were read out and they showed that there is lack of appreciation among EU citizens about the importance of the single market. Or rather, as Mr Grech said, people know of the changes but they do not link them to the Single Market packet of legislation.

Also, as Mr Dalli remarked, people’s expectations have moved and people now look forward to the next frontiers to be crossed.

Or, as another survey among young people showed, they take for granted mobility of studies (Erasmus) and they now want to remove the digital frontiers that do not allow them to download music from another country.

The Commission has now proposed a new set of propositions, called Single Market Act II, which, at least in my opinion is reductive. What Europe needs, I feel, in this time of crisis, is a broad vision which can only come from economic blocs, such as the US, which have already become a single, integrated market, where people move across state borders and retain all their rights, where people really feel they are part of one bloc.

Of course, the US is helped by the fact it has only one language, and its economy is completely business-friendly, whereas there is a more developed social conscience in Europe. But it would help Europe to dream big.

The following are the proposals of BusinessEurope:

Free movement of goods

When a product is sold legally in one European country, it should be allowed in other markets. But a number of national technical requirements can exclude new products from the EU market and limit the free movement of goods. There is thus need to ensure that standardisation does not impede the free movement of goods.

Mobility of workers

There is need to increase the mobility of workers throughout the EU, by reducing the number of regulated professions, simplifying procedures for the recognition of professional qualifications and ensuring uniform quality levels for education and training.

Public procurement made electronic

The introduction of e-procurement can improve efficiency, market openness, transparency and competition, resulting in less public spending. However, its take-up is still very small.

Public services open to competition

In many countries there is a lack of efficiency in the public sector and companies experience many difficulties. Public-private partnerships can provide financial relief for public authorities, innovative solutions, more customer-oriented services and better value for money for the users.

Investment in trans-European transport networks

Unfortunately, only 5 of the TEN-T priority projects have been completed. Many regions still miss out on development potential and business misses out on valuable opportunities.

E-commerce: moving into the digital single market

The EU could gain 4% of GDP by creating a true single digital market by 2020. This corresponds to a gain of EUR 500 billion. The diverse rules on data privacy, consumer protection, provision of online services and the divergent way in which they are applied in EU countries are a great challenge for e-business./

More venture capital for SMEs

The EU market is fragmented along national lines. This prevents European venture capital funds from raising capital across the EU. It creates problems and additional costs for venture capital fund managers seeking to raise funds outside their country.

The euro: one currency, many countries

The introduction of the euro made it easier for European companies to develop international strategies thanks to a reduced level of currency risk. Safeguarding and strengthening the euro is fundamental to the future prosperity of Europe.

Towards a common VAT

The increase in cross-border trade has led to an increase in foreign VAT obligations for both small and bigger companies, together with many headaches. VAT must be levied in the country where the product is consumed.

EU trademark and intellectual property rights

The EU must pursue better access to intellectual property rights, in particular for SMEs, including the creation of a unitary patent that meets the needs of all European users.

Integration of energy markets

A well-functioning single market for energy is vital for cost-effective, secure and competitive energy provision across Europe.

International dimension of the single market

Regulatory cooperation with the EU’s largest trading partners is important to foster trade, investment and jobs. This cooperation can also promote open and non-discriminatory regulation in future partnerships with emerging markets.

Towards the end of a very full day, a possible way ahead was indicated by young people. The Commission had organised a ‘Creative Competition’ from people who were born in 1992 or later for articles, videos, apps, cartoons, etc about the single market.

It was quite significant, I found, that the winner of the apps section was a Greek who expressed full enthusiasm about the EU while being at the forefront of the electronic new wave.

Many of the young people present expressed thanks for Erasmus, through which they have been enabled to study outside their country. They were completely dismayed to find out that budgetary restrictions have cancelled Erasmus for this year. One of the young people urged the EU to devote the Nobel Peace Prize money to the Erasmus programme. The very full hall erupted in applause.

Caption, someone on mobile: The EU mobile roaming regulation of May 2007 cut the cost of making and receiving mobile phone calls abroad for at least 140 million users. An SMS cost 11 cents in June 2009, it is now 9 cents and will cost 6 cents as from July 2014. A downloaded megabyte today costs 70 cents, will cost 45 cents as from next summer and 20 cents as from July 2014

Caption barroso: Commission President Joe Manuel Barroso remarked that the single market is bigger than the US. He said it is not perfect, nor complete

It was in 1992 that the then called EEC created the Single Market, which came into effect on 1 January 1993. Since then, much has been done. But, as a conference held in the European Parliament on Monday heard, much more needs to be done.

The Single Market can give a real boost to economic growth in Europe at a time when growth is sorely needed, but at the same time, current austerity measures can actually kill the Single Market and some calls for greater protectionism could undermine all that has been achieved in these past 20 years.

Twenty years ago, the Internet had barely started, the today all-important social media were not even a glimmer in their inventors’ minds and Europe was dominated by people such as Jacques Delors, Margaret Thatcher, Helmut Kohl, Giulio Andreotti and the like.

One thing that impressed me at the conference was that even the Commission itself and the EU offices tend to downplay the Single Market’s achievements.

A handout by the European Parliament, for instance, thus listed the achievements:

cheaper calls abroad

more rights for passengers

helping service suppliers to trade across borders

safer toys for children

citizens’ savings better protected.

But it had to be a participant from Denmark to remind the conference that 20 years ago, Europe was criss-crossed by borders and, those especially who had land borders had to wait a lot to cross each border, showing passports and awaiting clearance by customs. Today, all that is the past and will (hopefully) not return.

Here, anyway, are the Top 5 single market gains according to the European Parliament:

Cheaper calls abroad

The EU mobile roaming regulation of May 2007 cut the cost of making and receiving mobile phone calls abroad for at least 140 million users. An SMS cost 11 cents in June 2009, it is now 9 cents and will cost 6 cents as from July 2014. A downloaded megabyte today costs 70 cents, will cost 45 cents as from next summer and 20 cents as from July 2014.

More rights for passengers

As from 2005, passengers travelling by air, rail, water and road in the EU enjoy uniform protection of their rights, such as compensation, immediate and proportionate assistance in the event of delay or cancellation, and equal access to means of travel.

Helping service suppliers to trade across borders

Since the end of 2009, service providers, from travel agents to office maintenance staff, can trade anywhere in the EU without needing to establish a new business in each EU country.

Safer toys for children

At the end of 2008, the European Parliament voted in the world’s strictest toy legislation.

Citizens’ savings better protected

If an EU bank fails, each citizen’s savings there are protected by up to € 100,000, up from € 20,000 as it was in 2008.

Facts about the single market

500 million people

World’s largest economy

GDP = EUR 12.6 trillion

Adding EUR 600 billion a year to Europe’s economy

3 million new jobs created

2.5 million Erasmus students

More competition

Accounts for 20% of global exports and imports

Wider choice of goods and services

Price airline tickets dropped by 40%

6 million people working in another member state

EUR 2,800 billion traded in goods in 2011.

The aim of the conference, as made clear from the very beginning by Commissioner Michel Barnier, was not to celebrate, nor to wallow in nostalgia but to assess its current state and to look ahead at the challenges facing it.

Commission President Joe Manuel Barroso kicked off by remarking that the single market is bigger than the US. It is not perfect, nor complete.

Its creator, Jacques Delors, was meant to come but old age kept him away and his message was read by M Barnier. Delors insisted on the social dimension of the EU and the single market.

Italian Prime Minister Mario Monti, who as Commissioner, had drawn up a comprehensive report about the state of the single market, made a video call from Italy. He warned that the single market can be rolled back and even disintegrate unless all stakeholders move together to deepen and improve it. The crisis has affected the single market – banks have stopped lending to each other, and there are many calls to raise barriers between countries.

The conference’s title itself, ‘Together for new growth’, pointed out that a refreshed single market could perhaps kickstart the EU economies from the impacts of the crisis. This was discussed by a panel of speakers which included Commissioner John Dalli and MEP Louis Grech, Vice-Chairman of the Internal Market and Consumer Protection committee of the European Parliament, who had been Mario Monti’s counterpart in the discussions between the Commission and the Parliament some years back (and who was singled out for special mention by Mr Monti himself in his video-speech).

The results of various surveys were read out and they showed that there is lack of appreciation among EU citizens about the importance of the single market. Or rather, as Mr Grech said, people know of the changes but they do not link them to the Single Market packet of legislation.

Also, as Mr Dalli remarked, people’s expectations have moved and people now look forward to the next frontiers to be crossed.

Or, as another survey among young people showed, they take for granted mobility of studies (Erasmus) and they now want to remove the digital frontiers that do not allow them to download music from another country.

The Commission has now proposed a new set of propositions, called Single Market Act II, which, at least in my opinion is reductive. What Europe needs, I feel, in this time of crisis, is a broad vision which can only come from economic blocs, such as the US, which have already become a single, integrated market, where people move across state borders and retain all their rights, where people really feel they are part of one bloc.

Of course, the US is helped by the fact it has only one language, and its economy is completely business-friendly, whereas there is a more developed social conscience in Europe. But it would help Europe to dream big.

The following are the proposals of BusinessEurope:

Free movement of goods

When a product is sold legally in one European country, it should be allowed in other markets. But a number of national technical requirements can exclude new products from the EU market and limit the free movement of goods. There is thus need to ensure that standardisation does not impede the free movement of goods.

Mobility of workers

There is need to increase the mobility of workers throughout the EU, by reducing the number of regulated professions, simplifying procedures for the recognition of professional qualifications and ensuring uniform quality levels for education and training.

Public procurement made electronic

The introduction of e-procurement can improve efficiency, market openness, transparency and competition, resulting in less public spending. However, its take-up is still very small.

Public services open to competition

In many countries there is a lack of efficiency in the public sector and companies experience many difficulties. Public-private partnerships can provide financial relief for public authorities, innovative solutions, more customer-oriented services and better value for money for the users.

Investment in trans-European transport networks

Unfortunately, only 5 of the TEN-T priority projects have been completed. Many regions still miss out on development potential and business misses out on valuable opportunities.

E-commerce: moving into the digital single market

The EU could gain 4% of GDP by creating a true single digital market by 2020. This corresponds to a gain of EUR 500 billion. The diverse rules on data privacy, consumer protection, provision of online services and the divergent way in which they are applied in EU countries are a great challenge for e-business./

More venture capital for SMEs

The EU market is fragmented along national lines. This prevents European venture capital funds from raising capital across the EU. It creates problems and additional costs for venture capital fund managers seeking to raise funds outside their country.

The euro: one currency, many countries

The introduction of the euro made it easier for European companies to develop international strategies thanks to a reduced level of currency risk. Safeguarding and strengthening the euro is fundamental to the future prosperity of Europe.

Towards a common VAT

The increase in cross-border trade has led to an increase in foreign VAT obligations for both small and bigger companies, together with many headaches. VAT must be levied in the country where the product is consumed.

EU trademark and intellectual property rights

The EU must pursue better access to intellectual property rights, in particular for SMEs, including the creation of a unitary patent that meets the needs of all European users.

Integration of energy markets

A well-functioning single market for energy is vital for cost-effective, secure and competitive energy provision across Europe.

International dimension of the single market

Regulatory cooperation with the EU’s largest trading partners is important to foster trade, investment and jobs. This cooperation can also promote open and non-discriminatory regulation in future partnerships with emerging markets.

Towards the end of a very full day, a possible way ahead was indicated by young people. The Commission had organised a ‘Creative Competition’ from people who were born in 1992 or later for articles, videos, apps, cartoons, etc about the single market.

It was quite significant, I found, that the winner of the apps section was a Greek who expressed full enthusiasm about the EU while being at the forefront of the electronic new wave.

Many of the young people present expressed thanks for Erasmus, through which they have been enabled to study outside their country. They were completely dismayed to find out that budgetary restrictions have cancelled Erasmus for this year. One of the young people urged the EU to devote the Nobel Peace Prize money to the Erasmus programme. The very full hall erupted in applause.

Caption, someone on mobile: The EU mobile roaming regulation of May 2007 cut the cost of making and receiving mobile phone calls abroad for at least 140 million users. An SMS cost 11 cents in June 2009, it is now 9 cents and will cost 6 cents as from July 2014. A downloaded megabyte today costs 70 cents, will cost 45 cents as from next summer and 20 cents as from July 2014

Caption barroso: Commission President Joe Manuel Barroso remarked that the single market is bigger than the US. He said it is not perfect, nor complete