On 21 May, the European Parliament held a plenary debate on the European Commission’s newly unveiled Single Market Strategy, a wide-ranging initiative aimed at removing internal barriers, simplifying regulation, and strengthening the EU’s economic backbone.
The strategy received strong cross-party support, with MEPs calling for targeted action in key areas such as energy, telecoms, financial services, and the mutual recognition of professional qualifications. A special focus was also placed on empowering SMEs and mid-caps, along with concrete plans to reduce administrative costs by €400 million annually.
The debate underscored a growing consensus: the Single Market must evolve to meet today’s challenges, from global competition and economic resilience to innovation and sustainability.
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Image Source: European Parliament Multimedia Centre
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