Monday, January 5, 2015
The European Commission's plan to lessen the burden of regulation.
The new European Commission has set out an agenda that is significantly more modest than that pursued by its predecessors. The number of new proposals has been scaled back while many measures already in the legislative pipeline are to be withdrawn.
- The Commission's deregulation efforts could provide an economic stimulus to European business.
- However, by limiting 'European' responses, they could also lead to a race to the bottom as governments underbid in the rules they set.
- This could facilitate a EU-US trade deal by limiting the scope of future EU regulation and the extent of divergence with US regulation.
- However, for that very reason, it could act as a catalyst for further opposition to the agreement.