The single market, a key pillar of the European Union since its foundation, is in danger. Several member states are reluctant to proceed further in building it; they oppose, for example, the services directive. They even try to undermine the working of those components of the single market that are already in place – and oppose foreign takeovers.
Worryingly, the epicentre of this revolt against the single market lies in countries that are at the core of the single currency. The eurozone, in order to deliver the benefits expected from the euro, needs to have more of a single market than the rest of the EU, but already it is getting less. The euro, meant to be the crowning achievement of the single market, looks increasingly like a currency in search of its market.
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