The European Commission has published a communication entitled: “Towards a Single Market Act – for a highly competitive social market economy". The communication contains 50 proposals for improving work, business and exchanges. The proposals include:
- an action plan for improving SME access to capital markets;
- measures to encourage private investment in the long term;
- drawing up a multiannual action plan for the development of European market surveillance;
- adopt a legislative initiative on access to basic banking services;
- proposing a Directive geared towards the creation of a single integrated mortgage market; and
- initiative on the use of alternative dispute resolution in the EU.
The proposals are accompanied by a frequently asked questions document. The proposals will be discussed for the next four months. The final work programme of the Single Market Act will be adopted in the early spring of 2011. The aim is for the Single Market Act to be implemented before the end of 2012