Greece risks having to pay a high fine for failing to completely implement the directive on domestic market services, which dates back to 2006. The European Commission has decided, for the first time, to take three countries who still have not adopted the measure – Greece, Germany and Austria – to the EU Court, asking for immediate economic sanctions. Greece may have to pay fine of 51,200 euros for every day, starting from the day of the verdict to the day it implements the European regulation.
Services, the European Commission reports, represent 70% of the European economy. Unfortunately, excessive administrative requisites still are the main barrier to the development of these activities, particularly small-scale services. As a result, consumers have access to a smaller number, and less efficient services. Estimates of the potential economic benefits of the directive on services speak of a number of 60 to 140 billion euros, the equivalent of a potential annual growth between 0.6 and 1.5% of the EU’s GDP.
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