As a reaction to serious tension on the financial market, on 21. July 2011, the heads of states and governments of the euro zone decided to amend the existing EFSF. The objective of the amendments is to increase the operative volume of the EFSF and to provide it with new legal instruments.

The main causes of the Euro crisis lie in the irresponsible indebtedness policy of the affected Euro states and in the real economy structures which threaten not only the creditworthiness of those states but of entire economies.

The MFF sets the legally binding ceilings for the annual budgets in advance and thus serves to maintain the budgetary discipline and the transparency of the budgetary procedure. The Commission proposes an EU financial volume to the amount of 1.11% of GNI (1,083 bn Euro). It is to consist of the actual MFF to the amount of 1.05% of GNI (1,025 bn Euro) and ), and further “possible“ expenditures outside the MFF to the amount of 0.06% of GNI (58 bn Euro) which are increased compared to the volume of 2007-2013.

The Commission proposes a Regulation in order to reform the legal framework for European standardisation to establish an efficient and technically up-to-date European standardisation system. European standardisation means defining technical and quality-related specifications through recognised European standardisation bodies. The legal framework is to be extended to services.

The Commission proposes new price limits for calls, SMS and data communications services within a foreign EU Member State. These will be gradually reduced until 2014. Service providers are to receive access to networks of mobile network operators in other EU states to offer mobile communications services. Mobile users of roaming services may switch from their roaming provider to an alternative provider “at any moment”.

The Commission proposes a Directive obliging both the public purse and companies to take efficiency-related measures. For instance, to annually renovate 3% of public buildings in an energy-efficient manner. Energy supply companies are be held statutorily liable for energy savings of their customers of 1.5%.

The Commission wishes to revise the Directive on the recognition of professional qualifications. In the present Green Paper, it presents its concept. The Commission is mainly focusing on the introduction of a European professional card in which the countries of origin certify that all requirements for exercising a certain profession in a host country have been met. The procedure is to be carried out electronically.

By means of modern information and communication technologies (ICT) “smart grids“ are to coordinate the behaviour of all grid users in order to ensure an economically efficient power system. The Commission wishes to draw up “appropriate measures” to expedite the set-up of such grids by the end of 2011.