European Commission President Ursula von der Leyen announced the “One Europe, One Market” strategy, a plan to fully integrate the EU’s single market by 2027 to help the bloc catch up with the United States and China.
Despite having the world’s second-largest economy, Europe is held back by internal barriers, fragmented rules, and regulations that make it function more like a “market of 27” than a unified one.
ADVERTISEMENT
ADVERTISEMENT
The strategy focuses on the main reasons for Europe’s competitiveness gap: complicated regulations, weak capital markets, high energy costs, and barriers to trade within the EU.
Big non-tariff barriers remain between EU countries, and billions of euros are lost each year because of separate financial and regulatory systems. Companies deal with heavy paperwork, and EU firms spend more on compliance than their US counterparts.
The new plan is based on five main areas: simpler rules, a unified market, energy, digital growth, and trade. It includes steps such as new laws to cut bureaucracy, a single EU corporate system, stronger links between capital markets, more energy infrastructure, and larger investments in digital and tech. The plan also wants to diversify supply chains and update trade policy to make Europe less dependent on others.
Will these new steps be enough to make Europe more competitive globally, or is something still missing? Take our quick, anonymous poll to share your view. We’ll feature the results across the EU in videos, articles, and newsletters, and use your feedback to guide our reporting as we look at how Europe can succeed in the age of artificial intelligence.