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mber of competitors has driven down prices significantly. More competition in public procurement means better value and higher quality services for the taxpayer. As a result of more open and competitive public procurement rules, governments have more money to spend on priorities such as health and education. EU members are enjoying this privilege. Some examples can be: internet access, air travel and telephone calls, also the price of railway rolling stock has dropped, with studies pointing at savings from 10% to 30%.

Doing business is much easier as long as we consider the borders of the nations are disappeared. Trade within the EU has risen by 30% since 1992. The bureaucracy which is no longer an issue in European unification has cut delivery times and reduced costs of doing business. Before all this happened, the tax system alone required 60 million customs clearance documents annually: these are completely omitted. Companies are now able to bid for contracts to supply goods and services to public authorities in other Member States, thanks to the opening up of public procurement.

THE SIGNIFICANCE AND THE AIM OF THE SINGLE MARKET IN FINANCIAL SECTOR

The unification of the market has contributed to the development and integration of financial sectors as well. Financial services, the banking and insurance sectors, represent a significant percentage of EU GDP and have a high potential for employment expansion. There is a large profit coming from these services and a great opportunity for an employment advance. The long-term goal of the action to achieve a single market in financial services is to create and develop an efficient capital market, which is a market driven mechanism in order to shift from a fragmented framework to a specialized one. By profiting from this ideal market, the costs of raising capital would be significantly reduced and make possible a much faster response to the specific needs of operators on financial markets. Faster response is the key against competition, which gives you a competitive advantage towards other competitors.

According to some research done by Simona Amanti in her book 'A single market in Financial Services', equity supply has more than doubled over the last decade, due to privatization and liberalization, and to corporate restructuring which has been boosted by the introduction of the single currency.[1]

One example in the financial sector is 'Dutch firms'.

The disappearance of the European Union's internal frontiers has resulted in administrative savings to many firms. Dutch firms have managed to save HFL 538 million a year. The only new expenditure firms are having to meet - HFL 105 million - relates to the adoption of administrative procedures, the management of statistics and the training of employees in the new administrative procedures.

These figures are taken from surveys conducted by the Dutch Ministry of Economic Affairs.

This reduction in costs is mainly attributable to the abolition of customs forms.[2]

SWITCHING TO A SINGLE MARKET IS NOT AN EASY TASK

Emerging many markets into one is was not an easy task. Accompanied with the introduction of the Euro curren本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。