Economics Department

Economic survey of the European Union 2007: The regulatory framework at the community level

 

Contents | Executive summary | How to obtain this publication | Additional info

The following OECD assessment and recommendations summarise chapter 4 of the Economic survey of the European Union published on 20 September 2007.

 

Contents                                                                                                                           

The internal market can be supported by better regulation and less red tape

The review of the single market must do more than just fill in the holes. In order to reduce the regulatory burden, red tape needs to be cut and the Commission’s recent initiative supported by the European Council is welcome. New interventions need to be well chosen and effective, while having minimum cost. The Commission in conjunction with member states should push ahead with its Better Regulation agenda, but it could go further by insisting on impact assessments for all proposals across all EU institutions (including substantive amendments by the Council or Parliament) and ensuring that the new independent Impact Assessment Board contributes to high-quality assessments by the Commission. According to the principle of subsidiarity, the community should intervene only where there is a clear case for action at the pan-European level. Regulation is not always the best option. When the community does regulate, it should opt for flexible rather than prescriptive rules – taking a lead from the successful Lamfalussy process in financial markets.

How to obtain this publication                                                                                      

The Policy Brief (pdf format) can be downloaded in English. It contains the OECD assessment and recommendations.The complete edition of the Economic survey of the EU 2007 is available from:

Additional information                                                                                                  

 

For further information please contact the EU Desk at the OECD Economics Department at eco.survey@oecd.org.  The OECD Secretariat's report was prepared by David Rae, Boris Cournède and Marte Sollie under the supervision of Peter Hoeller.

 

 

 

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