Recent shocks, such as the COVID-19 pandemic and the war in Ukraine, have revealed not only the single market's vulnerability in crises, but also the extent to which the EU's competitiveness relies on a well-functioning single market, ensuring unhindered access to the goods, services, and strategic inputs EU supply chains need. Although the single market has generally been a success, recent analyses, including those put forward by Enrico Letta and Mario Draghi in 2024, clearly demonstrate that it remains highly fragmented, limiting EU companies' ability to scale up and compete internationally, and preventing EU citizens from reaping the full benefits.

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