After two years much work has been done and it is anticipated that the next review, due shortly, will show that 15 of the 42 original initiatives have been completed and that 8 more will be completed shortly. The majority of these initiatives involve the issuing of Communications by the Commission rather than the finalisation of new or amending legislation.

The weight of activity does now look set to move away from the Commission to Parliament and Council. There have been high level statements of political endorsement at Council meetings but these sentiments have, up till now, run into obstacles in Council working groups.

The original Plan did set priorities and a general timeframe. More recently specific actions to be taken in the forthcoming period have been highlighted. However, the lack of a systematic step by step plan of exactly what is needed to be achieved by when if the overall objective was to be met has made it difficult to accurately track progress.

By any measure there remains much to be done and some have said that "without profound change ... there is no chance whatsoever (that it) will be delivered on time". Additionally to date there has been an emphasis on the timing of issues rather than also considering the quantity of the proposals being put forward and whether they will actually deliver the genuine single market which is desired.

The ambitions of the Plan, a single market for financial services, represent an opportunity for suppliers and users alike. For those ambitions to be realised, in the timeframe envisaged, will require hard work and co-operation on all sides.