Prague European Summit 2017 Study is out!
The third year of Prague European Summit brought together more than 500 participants, 18 panels and 3 public talks and focused on topics such as investment policies in Europe. For the first time, digital agenda made it to the center of attention thanks to this year's Prague European Summit 2017 Study: WHAT IS WRONG WITH THE SINGLE EUROPEAN MARKET AND HOW TO MOVE FORWARD: TOWARDS A SERVICE AND DIGITAL MARKET? co-authored by current and former Executive Manager of SAPIE - Adela Zabrazna and Petra Dzurovcinova.
The study examines the limits of current level of integration, especially in the field of services liberalization and digital economy. It develops on the argument that the more European economy comprises of services and digital economy, the less there is of the European Single Market as services and digital markets remain fragmented across the EU28. It also presents a set of recommendations for advancing the Single Market project towards a flexible and business friendly regulatory framework which fosters innovation.
The recommendations by authors cover two areas:
Complete the European Single Market:
Carry out a thorough revision of ESM’s current regulatory regime: Regulation revision on a larger scale may help the ESM to free itself of the malfunctioning, ill-defined or redundant regulation that hampers business environment in the EU.
Put regulatory impact on innovation at the core of EU’s legislation: Moderate regulation should, naturally, be a response to market failure, not an obstacle to market creation.
Complete the single market in services: Completing single market in services is a necessary condition of applying the same rules on the offline and online world.
Complete liberalization of network industries: Network industries should be liberalized to enable the smart solutions to increase efficiency of these industries.
Create the Digital Single Market fit for 21st century:
Approach policy as an enabler of innovation in Europe: Digital economy of Europe would benefit from innovation-friendly policy that allows innovative companies not only to grow, but also to fail less painfully. This policy includes e-privacy, patent or copyright rules fit for Europe's digital economy.
Ensure accessibility to digital and entrepreneurship education: Digital transformation is one of the greatest drivers of innovation in the education sector and a way to open lifelong learning opportunities to a wider pool of citizens and employees. It is also a key to overcoming digital divide.
Improve access to capital: Young innovative companies often face difficulties in accessing capital for their growth. Simplification of rules for private investment (venture capital, angel investment and other alternative sources of financing) would attract more investors to Europe and make capital easily accessible.
Embrace Digital by Default principles: Digitally-enabled government will encourage and help businesses to flourish with streamlined, clear rules following principles of once-only and digital by default.
Download the study here.
Disclaimer: COPYRIGHT © 2017 PRAGUE EUROPEAN SUMMIT
All rights reserved. This study may not be reproduced in whole or in part, in any form without written permission from the publishers, except by a reviewer who may quote passages in a review.