Digitisation is one of the strongest drivers for increasing growth, strengthening competitiveness and boosting employment through the renaissance of European industry. It offers opportunities for existing and new businesses in all sectors. In order to regain its industrial strength, the European Union needs to be at the forefront of the new digital society and be an attractive place to create, grow and develop businesses as well as solutions for consumers and enterprises.
However, because of policy fragmentation among Member States, the complexity of regulatory processes and inefficient enforcement of current European privacy rules, companies in Europe face a structural disadvantage compared to their global competitors. So, while shaping the Digital Single Market, we also need to consider the global economic context. A sense of urgency is required as well as the need to accept the necessary ruptures in certain sectors and national economies.
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