Report Suggests Major Reform of EU’s Internal Market

A report warns that without a major reform of its internal market, the EU could fall behind in global competition with the US and China. The study, to be presented at the EU summit, suggests altering state aid regulations to even the playing field among member states and introducing a ‘fifth freedom’ for the sharing of knowledge and research. Authored by former Italian Prime Minister Enrico Letta, the report reflects on the changed global economy since the internal market’s inception. Danish Industry advocates for swift action, highlighting the risk of job migration to the US due to Europe’s slower regulatory processes. Prime Minister Mette Frederiksen of Denmark is expected to attend the summit, where the future strategy for the internal market will be a key topic.