The efforts made by a large section of the media (always on the lookout for scandal) to present the temporary breakdown of negotiations on the European Constitution as a disaster for Europe are particularly excessive as the EU has made a great many positive decisions during this period, and others are underway. Despite the obstacles, delays, vacillations and a certain amount of objectionable behaviour on the part of certain people, tomorrow's historians will see this period in time as an important stage in the history of European integration. Whereas the quarrels on a few votes more or fewer in voting procedures will appear as a secondary event, the historians of tomorrow will cite 2003 and 2004 as the period in which Europe decide to give itself a Constitution, extended itself to countries and regions which had been forcibly distanced from it for half a century, concretely and efficiently re-launched its "defence" plank and laid the first institutional stones of a common or co-ordinated foreign policy. It is true that historic perspective is not often perceived by the man on the street, who has more immediate and tangible concerns. From this point of view as well, the current time is rich in positive elements. It is, however, strange that the growth initiative, with its operational measures in favour of trans-European networks, should have caught the media's attention at the time of heated discussions about the list of projects to be decided upon, and that nobody's talking about it now that it exists and is about to enter into the implementation phase!
Among measures taken or being prepared which interest economic circles, and which will improve how the single market works to the advantage of business, or which will directly influence the daily life of the citizen, we may quote the following:
1. The approval of the legislative package on the European single sky. A bit of national sensitivity could not be overcome, but for the first time, there is European legislation which comprises co-operation between civil and military authorities, and as of next year, air traffic will be made both easier and safer.
2. The growth initiative and the trans-European networks. Last week's summit approved this initiative, so long in the preparation, so long in the discussing- with epic battles to get such and such a project included in the European interests list- and neglected now that it exists. Community funding will be increased in certain cases (up to 20% of cost for cross-border projects), and the EIB guarantee reinforced, to make private investment more attractive. An economic operation will not boost growth in 2004 by itself, but it will influence the future "growth potential" of the EU. To the advantage of all.
3. The reform of competition policy. The very recent approval of the revised "mergers" regulation was the last element of a revolution, the likes of which Europe has not seen since the 1962 adoption of regulation 17. At the beginning of May 2004, prior notice of agreements will go, the criteria for the authorisation of mergers will be clarified and partly changed, and the reform of the Commission's services will be completed, strengthening the link between competition and industrial policies. In the meantime, Mario Monti has announced that he will take on a new field, that of the liberal professions. This announcement has already made waves, but Commissioner Monti feels that he should intervene because the regulations in force in certain Member States are too corporatist and weigh heavily on enterprise and sole traders. Some abuse could disappear; those whose positions could be described as excessively beneficial will kick up a fuss, but it will be of benefit to the economy as a whole.
4. A new regime for State aid to agriculture has been adopted by the Commission (see our bulleting of 11 December, page 13). The news didn't get much coverage, but it could have serious positive effects on agricultural activity and boosting rural areas.
5. A common regime for take-over bids exists. After fourteen years of trying, and of occasionally bitter arguments, the EU finally has a regulation. It is not complete, because it still leaves the Member States a lot of autonomy, but it's a start. I tried to list its significance, what's at stake and the differences of opinion in this column of 3 and 5 December (see also yesterday's EUROPE, p.10).
I haven't mentioned energy because recent decisions are controversial in part and call for more in-depth analysis. To the results already attained, we should add initiatives already announced or underway, such as: the parliamentary debate on services of general interest, the Commission's proposals on the future financial framework and on the new cohesion policy, and the announced reflection on the revision of the Stability Pact. This is a fair amount already, pending work starting afresh on the Constitution. (F.R.)