EU Services legislation

Yesterday MEP's voted to pass a new piece of euro-legislation that would enable a company in the EU to provide services to another EU country without having to abide by the local laws in that member state.

If I'm understanding this correctly, a Greek water treatment company could provide a service in the UK that complies with Greek rules over water quality. You can't even drink the tap water in Greece.

Apparently this will boost the EU economy and make it easier to do business.