To compete, Europe needs scale – not just simplification

Regulatory simplicity has become a significant part of the EU’s competitiveness agenda. But while it’s important, it’s not enough to make Europe competitive on its own. A much bigger obstacle is the fragmentation of its markets as well as the lack of scale and suitable governance structure hindering cross-border business. Europe needs regulatory simplicity, but even more so it requires an integrated market that allows firms to compete on a global level.