Much more than a Market: Report by Enrico Letta

In order to draft this report, which may come to define the future of the Single Market for years to come, Mr. Letta has travelled across Europe and beyond seeking to gather information and input. One of the stops on this route was 2023's SME Assembly, where he was able to engage with participants from all around Europe and understand the main issues at stake. Insights from the Network of SME Envoys contributed to the comprehensive analysis.

In April 2024, Enrico Letta, former Italian Prime Minister (2013-2014), presented his report on the future of the European Single market ('Much more than a market') which he had drawn up commissioned by the Council of the EU. Launched 30 years ago, the Single Market is the jewel in the crown of European integration, a source of common wealth. Faced with a more conflictual, volatile and complex world, a special effort in terms of strategic rethinking is required.

The European Council of 30 June 2023 had therefore called “for an independent High-Level Report on the future of the Single Market to be presented at its meeting of March 2024 and invites the incoming presidencies of the Council and the Commission to take this work forward, in consultation with the Member States”.

The report is subdivided in six chapters: (1) a 'Fifth Freedom" to enhance research, innovation and education in the Single Market; (2) a Single Market to finance strategic goals; (3) a Single Market to play big: Scale matters, (4) a sustainable Single Market for all; (5) a Single Market to go fast and far; and (6) a Single Market beyond its borders. The "Fifth Freedom" is supposed to comprise several areas such as research, innovation, data, competences, knowledge, and education. The report should feed into the next Strategic Agenda of the EU.