The combined population of the 10 smallest members of the European Union is 25 million. It also happens to be the number of unemployed in the EU. To paraphrase Tony Blair: so much for Europe’s social model.
Even though it is not part of the Eurozone, the UK is as much in need of growth in its economy as the Eurozone members. Without it, no one’s social model will be sustainable. But where is this elusive growth to come from after five years of an economic downturn?
One area is Europe’s single market. Even though it has just celebrated its 20th anniversary there has admittedly not been much celebration and, indeed, some would argue, any justification for it. For the truth is that the single market is not exactly as ‘complete’ as many of us pro-Europeans would like to admit. Many sectors remain obstinately closed to freer access and the single market itself is still viewed in some quarters as nothing more than a business agenda whose benefits, if and where they exist, only serve big business.
But the single market has to be a key part of any future strategy in growing our economies (not just the UK’s) and one of the main reasons why our continued membership of the EU is still critical. It’s a slight stretch to claim that the UK ‘invented’ the single market (at least single-handedly) but we are universally acknowledged as important champions of it – and where our European partners, some slightly grudgingly, are delighted that we are.
Perhaps if we changed some of the vocabulary from ‘markets’ and ‘profits’ to ‘jobs’ and ‘prosperity (for all)’ then the debate would become more urgent, inclusive and, yes, better informed.
This single market is still unfortunately a work in progress and is indeed in danger of being chipped away. So its completion has to be an absolute priority. But for that to happen, many entrenched interests across the EU’s member states have to be taken on if any serious progress is to be made.
If we consider one area – the liberalisation of services – we all have to take a long hard look to see if we want to be part of the solution or part of the problem. In other words, are we in favour of releasing the untapped growth in this huge sector or do we prefer the status quo?
Six months ago, tucked away in a typically turgid communiqué following yet another EU summit, our political leaders declared ‘Additional economic gains of up to EUR 330 billion could be reaped within the scope of this (Services) Directive’. That’s a lot of growth in anyone’s currency and we would be crazy not to pursue it.
Those 25 million unemployed deserve nothing less.
