Different views of the internal market: EU Competition Commissioner Margrethe Vestager and EU Internal Market Commissioner Thierry Breton
Image: EPA
The single market has brought unprecedented prosperity to EU citizens. And he hasn’t reached his potential yet. But instead of raising it, the EU Commission is pursuing industrial policy. This can be done better.
Simagine, the European single market is 30 years old and nobody cares. Certainly, there is no shortage of ceremonies, guest contributions and speeches to celebrate the anniversary. The European Parliament has already celebrated the free movement of goods, services, people and capital, and the EU Commission wants to follow suit in February.
There is every reason to. The opening of the internal borders for goods and people on January 1, 1993 brought unique prosperity to the EU. 440 million consumers today benefit from a larger and cheaper selection of goods, 17 million people live or work in another EU country, 24 million companies are located in the internal market and produce 15 percent of all goods traded in the world there. Exports within the EU, i.e. from one EU country to another, have increased fivefold since the beginning of 1993.