By the same token, growth-enhancing reforms are not confined to the national level. A lot of the potential inherent in our most important European catalyst for growth, the single market, is still untapped. The single market has been very successful in facilitating trade in goods. Hence, competition in this area is intense.
It included:   1  fiscal consolidation in advanced countries that is credible and clearly communicated;  G-20 Working Group on Enhancing Sound Regulation and Strengthening Transparency, “Final Report.” 25 March 2009, which can be found at: <http://www.g20.org/Documents/g20_wg1_010409.pdf>.