20
May
2026
Watch
High time to deliver on the Single Market, providing certainty and predictability for EU businesses and quality jobs (debate)
Madam President and Mr Vice-President, dear colleagues, since its creation in 1993, the European single market has delivered enormous prosperity for Europe. According to the European Central Bank, it has increased our GDP by between 12 % and 22 %. That is 12 % and 22 %. But its true strength is not only economic. The single market has advanced European integration by creating and protecting shared values. The single market stands for trust. The trust consumers place in it across the European Union, online and offline, for fairness towards workers, for justice, for future generations to whom we owe a liveable planet, and of course, freedom, from which citizens and businesses benefit alike. But today, I want to underline that the single market also stands for European security, because it gives the European Union the strength to shape our own future. Completing the single market is our answer. Our answer to security policies in the European Union, to American craziness, to Russian aggression and Chinese competition. Lowering ambition and defending national interests over common European strength is simply the wrong path. The European Union now needs bold new steps forward. Let me highlight two priorities for my group. First, we need a genuine circular economy within the single market to reduce raw material dependencies, to advance climate neutrality, and to create sustainable competitiveness. Second, we must reduce our dependence on US tech giants for digital infrastructure. This is not only an economic and security matter, but it is also about risk management. It is about protecting European democracy. What the European Union and the single market do not need is deregulation at the expense of consumers, environmental or social standards. They are our strengths, not our weaknesses. Weakening these standards means weakening the very foundation of the single market itself. So, let us enable the single market to continue doing what it has done since 1993, making the European Union stronger and more united.