20
May
2026
Watch
High time to deliver on the Single Market, providing certainty and predictability for EU businesses and quality jobs (continuation of debate)
Madam President, Mr Vice-President of the Commission, dear colleagues, today I want to talk about madness, because 33 years after the creation of the single market, we are still imposing tariffs on ourselves. It's madness because Europe's competitiveness crisis is fundamentally a single market crisis. Another sign of madness: while EUR 10 trillion sit idle in European bank accounts, our start ups move to the US for funding, often with European money. Europe does not lack capital – Europe leaks capital. So it's madness not to complete the capital markets union. It is also madness that our trading services with the rest of the world grow faster than between our own Member States. And why? Because our companies are lost in a maze of 27 national jurisdictions. It is madness, and it is because we insist on resisting harmonisation. And finally, it is madness that this happens because certain national governments are too blind to see the obvious: that their national interest depends on the success of the European project, specifically on the success of the single market. It's madness not to see this. So for those of us who are not mad, the choice is simple: one market instead of 27 alibis.