* US and EU agree ‘single market’ *


Richard Moore

Wow! Where did this come from? With one stroke of the pen, we have a big shift 
in the world picture. Will a merger of the dollar and Euro be next on the 

I found this part really humorous:

        The two sides also signed an Open Skies deal, designed to
        reduce fares and boost traffic on transatlantic flights.
            But little of substance was agreed on climate change.

How can anyone who is trying to boost transatlantic flights pretend they care 
about reducing carbon emissions? It boggles the mind.


Original source URL:

US and EU agree 'single market'

The United States and the European Union have signed up to a new transatlantic 
economic partnership at a summit in Washington.

The pact is designed to boost trade and investment by harmonising regulatory 
standards, laying the basis for a US-EU single market.

The two sides also signed an Open Skies deal, designed to reduce fares and boost
traffic on transatlantic flights.

But little of substance was agreed on climate change.

However, EU leaders were pleased that the US acknowledged human activity was a 
major cause.

Richest regions

Economics rather than the environment or politics was the focus of the summit, 
says the BBC's Europe correspondent, Jonny Dymond, from Washington.

The two sides agreed to set up an "economic council" to push ahead with 
regulatory convergence in nearly 40 areas, including intellectual property, 
financial services, business takeovers and the motor industry.

The aim is to increase trade and lower costs.

Some reports suggest that incompatible regulations in the world's two richest 
regions add 10% to the cost of developing and producing new cars.

German Chancellor Angela Merkel, whose country holds the EU's rotating 
presidency, said last month that if the US and EU could set business norms 
today, they would "secure the markets of tomorrow".

Since she came to office 18 months ago, she has made repairing damaged relations
with the US a top priority.

Emission cuts

The Europeans said they were pleased that the US now officially acknowledged 
that climate change was happening and that human activity was a major cause of 

"We agree there's a threat, there's a very serious global threat," said European
Commission President Jose Manuel Barroso.

"We agree that there is a need to reduce emissions. We agree that we should work

But behind the scenes, says our Europe correspondent, officials were saying that
not much had changed.

Ms Merkel will try to nudge the US towards a global approach to climate change 
before a G8 summit Germany is chairing in six weeks' time, says our 

But the US has consistently rejected the European approach of imposing national 
limits on greenhouse gas emissions, saying they would harm the international 

Visa hope

The Open Skies agreement will take effect on 30 March 2008 and will allow EU 
carriers to fly to anywhere in the US and vice versa.

The deal promises to lower airfares and widen choice for passengers on both 
sides of the Atlantic.

The EU hopes to go further and create an "Open Aviation Area" between the two 
sides "in which investment can flow freely and in which European and US airlines
can provide air services without any restriction," said a EU statement.

The EU is also hoping that the US will agree to withdraw its visa requirement 
for travellers from a number of EU states.

Story from BBC NEWS:

Published: 2007/04/30 23:21:16 GMT


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