The EU's Single Market: A Foundation at Risk

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Economy Berita

EU,Single Market,Economic Growth

The article warns about the fading influence of the EU's single market, citing concerns from top American financiers about Europe's economic stagnation. It emphasizes the need for EU unity and stronger economic growth to address geopolitical challenges and maintain the continent's competitive edge. The author calls for a renewed focus on the single market's potential and urges for a comprehensive EU-wide strategy for growth.

The writer is chief executive of UniCredit “Europe is disappearing.” So said Ken Griffin, founder of Citadel Securities, earlier in December. “It’s lethargic compared to the United States,” he added. “Their economy is not growing. Their per capita numbers are horrific.” When America’s top financiers make that kind of assessment about our continent, it is time to wake up and respond. It is now a little over two decades since the EU went through its greatest ever enlargement.

We have heard the calls to drive integration of Europe’s banking system so we can have greater firepower to finance new infrastructure and business growth. Yet we have seen precious little action. I believe in the convergence of our banking system, and with it stronger banks for Europe. That is why UniCredit Group has made an investment in Commerzbank and an offer to buy Banco BPM.

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