What is the untapped potential of the EU Single Market?
What is the untapped potential of the EU Single Market?
Rue de la Science 37, 1040 Brussels
The Single Market is one of the EU's greatest assets, delivering broad economic and strategic benefits for the EU and its Member States. Yet structural barriers still hold it back from reaching its full potential.
What untapped gains could a truly integrated Single Market bring? And could deeper market integration help cushion the EU against external trade shocks in an increasingly fragmented global economy?
New ECB analysis suggests that if all Member States matched the level of the most integrated economies, intra-EU trade could rise by around 4.4% for goods and 14.5% for services. Moreover, even a modest reduction in Single Market barriers would make the EU more resilient to external trade shocks.
Speakers
Lucia QUAGLIETTI
Team Lead Economist
European Institutions and Fora Division
European Central Bank
Vanessa GUNNELLA
Principal Economist
Euro area External Sector Division
European Central Bank
Naïm CORDEMANS
Senior Economist
European Institutions and Fora Division
European Central Bank
Staff