The Commission could consider setting up an effective mechanism for a regular update of EU control lists drawing on expertise from national authorities, to ensure that control lists are in tune with technological and commercial developments and minimise distortions of competition associated with outdated controls.

73. Suggests to the Commission that the single market strategy should comprise four main stages: the first to include an evaluation or health check of the current situation to assess the degree of distortion and strain that the various stakeholders in the single market have suffered, notably as a result of the crisis; the second to see the launch of a consolidation process, tying up loose ends; the third to entail development and ...[+++] improvement of the single market; and the fourth to concentrate on the longer-term vision of the market (EU 2020 Strategy);

14. Recognises that SMEs and start-ups are most affected by market inefficiencies; notes, at the same time, that the effect of State aid is less distorting when granted in favour of activities at a distance from the market or to SMEs and start-ups;

In determining the market distortion caused by the risk shield, the Commission should therefore take as a basis the value established for IBAG’s new business up to the end of the restructuring period, i.e. EUR [...]*. Otherwise, the market distortion caused by the risk shield could be estimated at best on the basis of the aid value of the risk shield in the worst‐case scenario (EUR 6,07 billion).

But, in that event, the market distortion could be measured only by reference to the new business (estimated at about EUR [...]* altogether in the restructuring phase; see paragraph 90) or, at most, to the overall value of the risk shield (EUR 6,1 billion).

(10) Whereas in its Resolution of 16 June 1997 on the establishment of an exchange-rate mechanism in the third stage of Economic and Monetary Union, the European Council issued firm political guidelines in accordance with which an exchange-rate mechanism is established in the third stage of EMU, hereafter referred to as 'ERM2`; whereas the currencies of non-participating Member States joining ERM2 will have a central rate vis-à-vis the euro, thereby providing a reference point for judging the adequacy of their policies; whereas the ERM2 will also help to protect them and the Member States adopting the euro from unwarranted pressures in ...[+++] the foreign-exchange markets; whereas, so as to enable appropriate surveillance in the Council, non-participating Member States not joining ERM2 will nevertheless present policies in their convergence programmes oriented to stability thus avoiding real exchange rate misalignments and excessive nominal exchange rate fluctuations;