The single market remains the decisive power of the EU. CEPS Policy Priorities for 2019-2024, 18 October 2019

Pelkmans, Jacques. (2019) The single market remains the decisive power of the EU. CEPS Policy Priorities for 2019-2024, 18 October 2019. [Policy Paper]

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Abstract

The EU’s single market should not just be one among several priorities for the new Commission and Parliament. The single market was and is the core business of the EU. Much of what goes on or is proposed under elaborate titles is actually part and parcel of the single market. The striking revelation of Brexit for many EU citizens and all businesses is precisely the centrality of the single market (including the customs union) to EU membership. Its value is first of all economic, of course, as it yields higher prosperity. However, it is critical in other arenas where ‘EU clout’ derived from the single market matters, such as multilateral and bilateral trade negotiations, global climate deals, standard setting, rule-making for international financial stability and even foreign policy.

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