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ECB’s Pereira calls for deeper EU single market integration
Economy
ECB Executive Board member Álvaro Santos Pereira stated that Europe needs to accelerate integration by expanding the single market to include the services, transport, and energy sectors.
The former head of the Central Bank of Portugal pointed to the complex geopolitical situation in Europe and the region’s technological lag as reasons to step up these efforts.
Pereira’s remarks come as a growing number of European policymakers advocate for deeper integration and the removal of barriers that hinder the bloc’s competitiveness and economic growth.
The central bank official acknowledged that the single market has already helped eliminate many forms of fragmentation. However, he noted that significant barriers remain, particularly in areas where the integration process has yet to be completed.
Speaking at a conference, Pereira explained that the remaining obstacles are more difficult to remove because they are rooted in national institutions and regulatory frameworks. He underscored the importance of finalizing integration in the services, transport, and energy sectors—areas where progress has thus far been limited.