The European Commission today published wide ranging proposals to improve the workings of the internal market and urged member states to overcome "petty squabbles" that have impeded progress.

Unveiling the new strategy, Frits Bolkestein, the internal market commissioner, warned the single market would suffer unless there was a new push to deepen and implement EU rules. The renewed effort by the Commission will have an impact on all aspects of the internal market, including the financial services action plan which aims to create a single market for retail and wholesale financial services within the next few years.