The European Commission proposes the creation of a Single Market Emergency Instrument
The European Commission presented a proposal for a Regulation establishing a Single Market Emergency Instrument (SME).
It aims to preserve the free movement of goods, services and people, and to ensure the availability of essential goods and services during future crises.
The proposal is divided into three areas. Firstly, a contingency phase in which an early warning system will be put in place for Member States to report any disruption to the single market.
Secondly, a surveillance mode that will be activated when a threat is detected whereby which Member States will be able to monitor supply chains for strategic goods and services and build stockpiles.
And thirdly, and only in the face of crises which have a major impact on the single market, an emergency mode whereby the Commission will be able to ask companies for information or to prioritise orders for certain products, and during which rapid control of unilateral restrictions will be conducted to maintain free movement.
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