EU Single Market "Failing," Warns Top Official, Citing War and High Costs

Former Italian Prime Minister Enrico Letta has issued a stark warning: Europe's fragmented Single Market is a "big problem" for the continent's ability to compete globally. He says this failure is now raising costs for everyone, worsened by the war in the Middle East. Letta authored a major report on reforming the EU's Single Market, which allows goods, services, and people to move freely between member states. He presented it in April 2024. Two years later, he states that many of his key recommendations are still not in place. This continued fragmentation, he argues, weakens the entire European economy. The problem extends to energy policy. Letta warns that a divided energy market, combined with instability from the Middle East war, is pushing prices higher for EU businesses and consumers. In a related interview, Letta also discussed EU plans for a digital version of the euro currency. A separate report on this issue will follow from Euronews correspondent Alix Le Bourdon.