The Swedish Presidency of the Council of the EU is trying to translate Member States’ grievances on the Single Market Emergency Instrument (SMEI) into a compromise text that it submitted to the Competitiveness and Growth Working Group on 31 March. This working document, which reflects the comments previously made by the EU27, aims to reduce the scope of the future SMEI instrument (see EUROPE B13032A1).
Several member countries had expressed their fears of too much interventionism on the...