Reforming the European Union’s Single Market: Enrico Letta’s Vision for the Fifth Freedom

A Call for Reform in the European Union’s Single Market

Three decades after the establishment of the European Union’s single market, former Italian Prime Minister Enrico Letta argues that it is time for a comprehensive overhaul. Letta, who also serves as a professor of international affairs at the prestigious Paris Institute of Political Studies (Science Po), has recently compiled an insightful report addressing the current state of the single market and exploring potential avenues for its future development.

Historically, even Jacques Delors, a key architect of the single market, noted towards the end of his tenure that discussions surrounding a fifth freedom would be essential. Letta has taken this notion and expanded upon it, envisioning a more modern and inclusive approach.

Building on Delors’ Vision

“The single market is predominantly rooted in a 20th-century economy that prioritizes the tangible and physical,” Letta explains. “However, we must evolve and adapt to the 21st century. The idea of a fifth freedom is vital for our future.”

Letta provides a practical example to illustrate his vision: “A few years ago, we initiated the concept of European Universities, a consortium comprising eight, nine, or even ten universities. Our goal is to scale up the financing for this initiative and foster a system where university professors, scholars, students, and researchers do not exclusively travel from east to west or south to north.”

Boosting Universities and Research

Professor Letta firmly believes that incorporating this fifth dimension into the single market would significantly enhance Europe’s education and research sectors. “We need to create circularity within this system. It is crucial to develop incentives that encourage scholars and students to journey from cities like Paris and Berlin to the more peripheral regions of Europe. This mobility is essential for the growth of research across the continent, fostering connections within the extensive network of European universities.”