Europe's Market Completion Agenda: From Draghi Report to Action

Pressure to remove trade barriers has become the main agenda item at EU summits; now it's time for concrete steps.

The Final Frontiers of the Single Market: Europe's Most Critical Economic Project The March 2026 EU Summit has left member states facing strong political pressure to list and commit to removing trade barriers within the single market. This pressure stems from Mario Draghi's comprehensive competitiveness assessment and Enrico Letta's single market report last year, which used strong data to highlight the costs the EU is still paying for not realizing its dramatic economic potential in terms of growth and competitiveness.

Looking at the current barriers, fragmentation in the service sector is one of the most expensive items; single market rules have historically been applied much more narrowly to services than to goods. The capital markets union has not made sufficient progress to meet previous commitments.

Companies operating in multiple member states in the telecommunications sector are struggling with numerous national regulatory bodies. Recognition of academic qualifications remains insufficient; this limits labor mobility in Europe, particularly in specialized professions.

Politically, the goal of completing the single market is at odds with the protectionist instincts of member states. Countries that find the service sector attractive are still using other areas as bargaining chips to secure their positions in critical industrial sectors.

The Renew Europe group has called on the Commission to take a more aggressive stance and to be prepared to use legal sanctions against non-compliant member states if summit commitments do not lead to a concrete action plan.