The EU's Single Market: A Fragile Future

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Politics أخبار

European Union,Economics,Single Market

This article argues that the European Union's single market is in danger of being undermined by a lack of unity and economic stagnation. The author warns that without a renewed focus on growth and cooperation, the EU risks falling behind other global blocs and losing its hard-won freedoms and ideals.

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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