EU Open Services Directive passed by MEPs

mike65

Okay its not very exciting but its about time. How much practical difference it'll make to the costs we bear for various services (such as banking, insurance etc) remains to be seen but it might encourage a boost in competition.

Herald-Tribune article

STRASBOURG, France: The European Parliament on Wednesday approved a bill designed to open the European Union's vast services market to cross-border competition, cutting much of the red tape that consultants, caterers, car rental companies and other service-providers face when setting up shop in another EU member state.

The legislation, passed in second reading, was hailed by EU Internal Market Commissioner Charlie McCreevy as a step toward the completion of the 25-nation bloc's single market, crucial for creating new jobs and helping Europe's fragile economic recovery.

But the bill, watered down over three years of tough negotiations that have pitted protectionists and trade unionists against free marketeers, goes only some way toward liberalizing the sector that employs more than 100 million people.

In a concession to western European governments that fear an influx of cheap foreign companies would erode social standards, the bill does not fully remove national barriers and allows EU members with tight labor rules to protect themselves against companies from less expensive markets/

Mike.