On 6 October 2010, the European Commission will release its proposals to complete and boost the EU Single market with the adoption of a "Single Market Act".  A  draft proposal announces further work in the area of foundations, including the possibility to launch a Green Paper on a European Foundation Statute in 2011. A Green Paper is a consultation document aimed at initiating a debate on the issue, as well as the proposals which could be foreseen. 

The EFC has already arrange a meeting in October with Jonathan Faull, Director General of European Commission Directorate-General Internal Market, in charge of the issue, to discuss the proposal  and review how the European Commission will pursue its reflection on the potential development of a European legal form for foundations.

The  objective of the "Single Market Act” is to  to advance the reforms needed to deliver sustainable and economic growth in the EU while responding to citizens’ aspirations.  It covers a list of legislative and other proposals, to be tabled during 2011, all aiming at having direct benefits for SMEs, citizens and other players in the single market. The Commission will also propose a "Social Business Initiative", which should contribute to the development of socially responsible businesses in the single market by using various levers: public procurement, improved access to finance, social ranking and communication tools.

EFC members interested in obtaining further information are invited to contact EFC secretariat at eu@efc.be