In-person only event
In early 2023, the European single market celebrated its 30th birthday. January 1993 saw the culmination of a seven-year effort to guarantee the free movement of goods, services, people and capital in the EU. The celebration highlighted impressive achievements, including notable growth in intra-EU and extra-EU trade, and increased foreign direct investment into the EU. However, a sobering reality emerged – the EU’s internal market is actually far from being truly ‘single’. Instead, there is a disheartening level of fragmentation in many sectors. This fragmented and, at times, virtually non-existent market significantly holds back the EU economy, frustrates businesses and hinders long-term investment strategies.
CEPS, in collaboration with the ‘Europe Unlocked’ coalition, will soon be unveiling a comprehensive report that sheds light on the intricacies of the less-than-unified European market. The report provides a detailed survey of the single market’s many shortcomings and lingering barriers. It then proposes a medium-term strategy to empower the single market which EU political leaders should embrace, in close cooperation with the European Parliament and Commission. This strategy should be overriding, with interim targets and regular reporting that facilitates widespread debate. The aim is clear – after four or five years, the single market would be markedly improved and deepened, leading to a more competitive EU and, by extension, boosting our overall prosperity. The report’s insights could also prove invaluable to former Italian Prime Minister Enrico Letta as he prepares his own report on the single market for the European Council, due in March.
What is crucial, above all else, is the need for a proactive approach that not only prioritises the single market on the EU’s agenda but also incorporates tangible mechanisms to compel leaders to remain vigilant and take proactive measures. The report advocates a hands-on strategy grounded not only in good intentions but also in implementing novel mechanisms. A series of detailed proposals have been outlined – now it is up to the EU’s leaders to act on them.
Panel discussion: 11:00 to 12:30
Networking lunch: 12:30 to 14:00
