Europe, a dream body?
The European Union (EU) dreams of being a perfect body – eurOpe incorporated. Like in an organism, the unity of the European market would be strong, fluid, and ready to assert itself in a moving environment. At least, that is the aim of the ” One Europe, One Market ” roadmap [1] endorsed by the three EU institutions ( the European Commission, Parliament and Council ) on the sidelines of a meeting held in Cyprus on 24 April.
Through this ambitious plan, the EU intends to respond to the challenge posed by the fragmentation of markets for goods, services and capital, which, despite the “single market” project, still hinders European growth and accentuates decline relative to the United States and China, which are more integrated in their functioning.
To avoid any dispersion in the execution of the plan, a battle order is set. Five priorities are outlined: simplifying rules, increasing “single market” integration, strengthening trade policy, reducing energy costs while decarbonising, and accelerating the use of AI. Ten obstacles hindering a single market were identified, under the name of “Terrible Ten”, such as imperfect recognition of qualifications or different labelling standards. Nothing is left to chance: steering procedures are in place, supported by key indicators. Finally, tight deadlines have been set, all of which are due to be completed by the end of 2027 at the latest.
The most emblematic of these measures is the creation by the end of 2026 – tomorrow – of a “28th regime” for companies who wish to do so: an optional regime called “EU Inc”, which would follow a harmonised set of rules at the EU level, while allowing registration in one of the 27 States. Setting up a business would be made as easy as possible: purely digital registration, valid in 48 hours, at a minimal cost, with no minimum capital, and without excessive red tape.
Yet is the whole of the EU going to become a bodybuilder in Silicon Valley with this magic wand?
The risk of disappointment is not small. First of all, it remains to negotiate and adopt the arsenal of measures announced. Once voted on, they will require the cooperation of each of the States to be implemented, as Europe does not have an administration acting directly at the national level. There will certainly be local slow-downs and reticence. Therefore, in order to meet the deadlines, the temptation might be great to propose measures with reduced ambitions. Furthermore, the removal of obstacles to the single market is likely to lead to significant social tension. In particular, more mobile European workers could end up competing more with local workers. All the more so because professional qualifications acquired in each country should be more easily recognised in the rest of Europe, which could upset certain regulated professions. Even the emblematic “28th tax bracket” could see its application diverted if it were to become synonymous with tax or social optimisation. Finally, the cooperation encouraged between Member States on specific measures could lead to the formation of intra-Community blocs that undermine the project of a more integrated Union.
Above all, this plan lacks the nerve of all measures: specific funding. No additional envelope is planned. The plan refers to the resources of the current multiannual financial framework and especially those of the next one (2028-2034), which has yet to be approved, however.
Europe therefore finds itself at a crossroads: either it nourishes the dream of a better-integrated body, actually manages to transform itself and soon regains an enviable attractiveness, or it largely fails, for reasons that are all too obvious, and eurOpe incorporated Remains the mere dream of a body of political communicators.
At least the impossible will have been attempted!
Alexis Bienvenu, Manager, La Financière de l’Échiquier (LFDE)
Drafting completed on 06.05.2026
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[1] One Europe, one market