Much more than a Market. Speed, security, solidarity – Empowering the Single Market to deliver a sustainable future and prosperity for all EU Citizens

Summary:

Report published in April 2024 and draft by Enrico Letta on the future of the European Union's (EU) Single Market.

Further information:

The report seeks to examine the future of the EU's Single Market following a succession of crises and external challenges. It is divided into two main sections: the first outlines the political vision derived from the consultations carried out during the preparation of the report. The second section presents practical policy recommendations and explores a number of technical aspects.

The chapters include the introduction of a "fifth freedom" focusing on research, innovation, knowledge and education, the importance of mobilising public and private resources to bridge investment gaps towards common strategic goals, the need for scaling up across different sectors, the distribution of the benefits of economic integration, the improvement of regulatory frameworks and enforcement tools, the interaction between internal and external dynamics and the potential for the Single Market to extend the EU's influence on the global stage.

The drafting of this High-Level Report was kickstarted in June 2023 by the European Council. The European Commission, the Council of the European Union and the Member States later asked the former Italian Prime Minister Enrico Letta to write the report. Mr Letta travelled across the EU to gather information and input before publishing the Report in April 2024. The outcome was presented at a special European Council summit on 17-18 April 2024.

Official

Jacques Delors Institute (Notre Europe): Press Release, 15/09/2023: Enrico Letta receives a European mandate to think about the future of the internal market https://institutdelors.eu/en/publications/enrico-letta-receives-a-european-mandate-to-think-about-the-future-of-the-internal-market/

European Commission: DG Internal Market, Industry, Entrepreneurship & SMEs: News, 10/04/2024: Enrico Letta's Report on the Future of the Single Market https://single-market-economy.ec.europa.eu/news/enrico-lettas-report-future-single-market-2024-04-10_en

European Council: Remarks by President Charles Michel at the joint press conference with Enrico Letta (17 April 2024) https://www.consilium.europa.eu/en/press/press-releases/2024/04/17/remarks-by-president-charles-michel-at-the-joint-press-conference-with-enrico-letta/

Party of European Socialists (PES): News & Press Release, 17/04/2024: The Letta Report is a wake-up call to complete the Single Market for our green and social future https://pes.eu/economy/the-letta-report-is-a-wake-up-call-to-complete-the-single-market-for-our-green-and-social-future/

Hertie School: Jacques Delors Centre: News, 18/04/2024: Enrico Letta Unveils Vision for a New Single Market https://www.delorscentre.eu/en/about/news/detail/content/enrico-letta-unveils-vision-for-a-new-single-market

Renew Europe EP Group: Newsroom, 18/04/2024: Thorough and timely Letta Report opens the debate on the future of the Single Market https://www.reneweuropegroup.eu/news/2024-04-18/thorough-and-timely-letta-report-opens-the-debate-on-the-future-of-the-single-market

German Federal Ministry for Economic Affairs: Press Release, 19/04/2024: Enrico Letta on the future of the Single Market https://www.bmwk.de/Redaktion/EN/Pressemitteilungen/2024/04/20240419-enrico-letta-on-the-future-of-the-single-market.html

---

News

EurActiv, 15/04/2024: Letta to call for US-IRA-style funding, pan-European state aid contribution scheme https://www.euractiv.com/section/economy-jobs/news/letta-to-call-for-us-ira-style-funding-pan-european-state-aid-contribution-scheme/

Politico, 16/04/2024: Time for a European single market ‘with teeth’ to take on China, India, leaders told https://www.politico.eu/article/enrico-letta-report-says-time-for-european-single-market/

Reuters, 17/04/2024: EU faces last chance to compete with rivals, says summit report author https://www.reuters.com/world/europe/eu-faces-last-chance-compete-with-rivals-says-summit-report-author-2024-04-17/

Science Business, 17/04/2024: High-profile report urges EU to create a ‘fifth freedom’ of research and innovation https://sciencebusiness.net/news/horizon-europe/high-profile-report-urges-eu-create-fifth-freedom-research-and-innovation

Le Monde, 19/04/2024: Enrico Letta: Europe's economy is falling behind, 'we can't wait any longer' https://www.lemonde.fr/en/economy/article/2024/04/19/enrico-letta-europe-s-economy-is-falling-behind-we-can-t-wait-any-longer_6668853_19.html

Politico, 19/04/2024: Make the single market ‘sexy,’ Italy’s ex-PM urges EU leaders https://www.politico.eu/article/enrico-letta-former-pm-italy-optimism-financial-integration-eu/

Euronews, 11/06/2024: 'I start from a big, red alarm' - Enrico Letta urges radical EU single market shake-up https://www.euronews.com/business/2024/06/11/single-market-shake-up-a-fifth-freedom-for-the-eus-internal-trading-arrangements

---

Commentary and Analysis

European Centre for International Political Economy (ECIPE): Blog, April 2024: The Letta Report – the Good and the Bad! https://ecipe.org/blog/the-letta-report-the-good-and-the-bad/

Digital Europe: News, 17/04/2024: Enrico Letta rings the alarm bell, will the EU listen this time? https://www.digitaleurope.org/news/enrico-letta-rings-the-alarm-bell-will-the-eu-listen-this-time/

Telefónica: Blog, 18/04/2024: Enrico Letta´s report sets out the roadmap to the Single Market https://www.telefonica.com/en/communication-room/blog/enrico-lettas-report-sets-out-the-roadmap-to-the-single-market/

Groupe d'Études Géopolitiques, 18/04/2024: Much more than a Market https://geopolitique.eu/en/2024/04/18/much-more-than-a-market/

European Banking Federation (EBF): Media Centre, 18/04/2024: The European Banking Federation supports the vision of Enrico Letta on the Future of the Single Market https://www.ebf.eu/ebf-media-centre/the-european-banking-federation-supports-the-vision-of-enrico-letta-on-the-future-of-the-single-market/

European Round Table for Industry (ERT): Statement, 18/04/2024: Industry requires the removal of barriers for a more integrated EU Single Market https://ert.eu/documents/ert-reaction-to-the-letta-report/

Bruegel: First Glance, 19/04/2024: The Letta report: an assessment of the energy proposals https://www.bruegel.org/first-glance/letta-report-assessment-energy-proposals

Centre for European Policy Studies (CEPS): Events, 19/04/2024: Future-proofing the Single Market: a presentation of the high-level independent report by Enrico Letta https://www.ceps.eu/ceps-events/future-proofing-the-single-market-a-presentation-of-the-high-level-independent-report-by-enrico-letta/

Centre for European Reform (CER): Insights, 23/04/2024: Enrico Letta's report: More than a market, but less than an agenda https://www.cer.eu/insights/enrico-lettas-report-more-market-less-agenda

Atlantic Council: Events, 24/04/2024: 7th Quandt Distinguished Lecture: A conversation with Enrico Letta https://www.atlanticcouncil.org/event/7th-quandt-distinguished-lecture-a-conversation-with-enrico-letta/

Centre for European Reform (CER): Podcast: Unpacking Europe, 24/04/2024: Evaluating Enrico Letta’s report on the single market https://www.cer.eu/media/cer-podcast-unpacking-europe-evaluating-enrico-letta%E2%80%99s-report-single-market

Freshfields: Risk & Compliance Blog, 29/04/2024: Enrico Letta on EU competitiveness: an analysis of his key recommendations for a fairer, greener, more digital economy https://riskandcompliance.freshfields.com/post/102j6g2/enrico-letta-on-eu-competitiveness-an-analysis-of-his-key-recommendations-for-a

France24, 03/05/2024: We have to update the single market fast, former Italian PM Enrico Letta says https://www.france24.com/en/tv-shows/talking-europe/20240503-we-have-to-update-the-single-market-fast-former-italian-pm-enrico-letta-says

Atlantic Council: Econographics Blog, 07/05/2024: The Enrico Letta Report and the state of the EU’s Capital Market Union https://www.atlanticcouncil.org/blogs/econographics/the-enrico-letta-report-and-the-state-of-the-eus-capital-market-union/

German Central Bank: Speeches, 07/05/2024: Remarks on Enrico Letta’s report “Much more than a market”. Panel Discussion “Empowering the Single Market – Opportunities and challenges” https://www.bundesbank.de/en/press/speeches/remarks-on-enrico-letta-s-report-much-more-than-a-market--928196

IE University: Global Policy Center: News, 16/05/2024: Interview with Enrico Letta on the EU single market https://www.ie.edu/gpc/news/2024/05/conversation-with-enrico-letta-on-the-eu-single-market-hosted-by-ie-spega-gpcs-director/

Wolters Kluwer: Competition Law Blog, 23/05/2024: A Competition Lawyer’s Digest of the Letta Report – What You Need to Know https://competitionlawblog.kluwercompetitionlaw.com/2024/05/23/a-competition-lawyers-digest-of-the-letta-report-what-you-need-to-know/

Confederation of Finnish Industries: Bulletins, 29/05/2024: Finnish Industries’ key takeaways on Enrico Letta’s Report on the EU Single Market https://ek.fi/en/current/bulletins/finnish-industries-key-takeaways-on-enrico-lettas-report-on-the-eu-single-market/

European Trade Union Confederation (ETUC): ETUC response to the Letta report “much more than a market” (4 June 2024) https://etuc.org/en/document/etuc-response-letta-report-much-more-market

European Trade Union Institute (ETUI): News, 04/07/2024: Can the Letta Report help put Europe on course towards its 2050 net-zero target? https://www.etui.org/news/can-letta-report-help-put-europe-course-towards-its-2050-net-zero-target

Community of European Railway and Infrastructure Companies (CER): Press Release, 01/10/2024: Enrico Letta wants railways to help Europeans fall back in love with the single market https://www.cer.be/cer-press-releases/enrico-letta-wants-railways-to-help-europeans-fall-back-in-love-with-the-single-market

---