The key hallmark of the current transformation of the global economy is an increase in the velocity of change, and consequently a growing sense of “loss of control”, but the digital economy is global and so how one country or region resolves these issues “affects us all”, according to Terrell Mc Sweeny, Commissioner with the US Federal Trade Commission, (FTC).
It is now two years since the Digital Single Market (DSM) strategy was first announced.Composed of 16 interrelated initiatives and designed to extend the principles of free movement of goods, persons, services and capital to the digital sphere, it has been estimated that full implementation of the Digital Single Market strategy could add €415 billion a year to the EU’s economy, and create hundreds of thousands of new jobs.
In the wake of Brexit and the election of Donald Trump as US President last year, it is clear that Western politics has experienced something of a paradigm shift. However, with the recent victory of Emmanuel Macron in the French Presidential elections, and that of Dutch Premier Mark Rutte in the Dutch general elections on 15 March 2017, it would appear that this shift toward populism has been checked, at least for now.
In the run-up to the Bratislava Summit of the EU 27 on 16 September, European Commission President Jean-Claude Juncker delivered his annual State of the Union Address in Strasbourg on 14 September 2016 before members of the European Parliament, the College of Commissioners and the Slovak Presidency of the Council of the EU.