”Europe needs to reform and forge a true...
"Europe needs to reform and forge a true digital single market,” said Google Executive Chairman Eric Schmidt in an essay published on the European Commission’s (EC) website (http://bit.ly/1ylRKhy). If Europe establishes a digital single market, “the macroeconomic benefits would be…
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enormous,” he said. Citing European Policy Centre research (http://www.epc.eu/dsm/1/), Schmidt said a single digital market in Europe could raise EU GDP by at least 4 percent by 2020, generating 250 billion euros of “additional growth.” But European companies have lagged in technology adoption, partially due to hesitancy about obtaining individual licenses to operate in each of the 28 EU countries, he said. “If regulatory barriers are removed, startups could directly access half a billion European consumers, a market that’s larger than the US, where technology companies have the ability to achieve scale before they expand internationally.” The essay was posted on the site for Neelie Kroes, a European commissioner and head of the EC’s digital agenda. Kroes has made a single digital market a top priority of her tenure, but Google has faced ongoing pushback from EU antitrust officials (CD Sept 22 p10).