The cost of non-Europe in the single market : 'Cecchini Revisited' : an overview of the potential economic gains from further completion of the European single market

It is well known that the Single Market has contributed significantly to economic growth and consumer welfare in the European Union. It has not however achieved its full potential and economic gains could be secured by better and more effective application of existing legislation and a deepening of the Single Market. This Cost of Non-Europe report seeks to quantify the costs arising from the lack of full integration and analyses the benefits foregone for citizens, businesses and Member States. The report considers the economic cost of market fragmentation and of the gaps and deficits in the free movement of goods, of services, public procurement, the digital economy and the body of consumer law known as the consumer acquis. The report estimates that completing the Single Market in these fields would entail economic gains ranging from 651 billion to 1.1 trillion euro per year, equivalent to a range of 5 % to 8.63% of EU GDP.