Enrico Letta to Deliver Keynote at Green Transition Forum in Sofia

Debate over the future of the European Union’s Single Market is intensifying as policymakers look for ways to strengthen the bloc’s competitiveness and economic integration. The issue has returned to the centre of EU policy discussions as institutions prepare for reforms that could shape the next phase of Europe’s economic strategy.

Former Italian Prime Minister Enrico Letta, who authored a major 2024 report on the future of the EU Single Market, is expected to address these issues at the Green Transition Forum in Sofia in June 2026, where discussions will focus on competitiveness, industrial policy and market integration.

Letta’s role in the EU competitiveness debate

Letta is a prominent figure in European policymaking. He served as Italy’s Prime Minister from 2013 to 2014 and currently leads the Jacques Delors Institute, a think tank focused on European integration and economic policy.

In 2023, the European Commission tasked Letta with preparing a strategic report on the future of the EU Single Market, the system that allows the free movement of goods, services, capital and people across the bloc.

The Single Market, established in 1993, is one of the EU’s core economic frameworks. By reducing regulatory barriers between member states, it aims to create a unified economic space in which businesses and citizens can operate freely across national borders.

Despite these foundations, policymakers and economists increasingly argue that the market remains incomplete. Differences in national regulations, fragmented financial systems and administrative barriers continue to limit cross-border activity in several sectors.

Letta’s report, “Much More Than a Market,” published in April 2024, argues that addressing these gaps is essential if Europe is to remain competitive in an economy shaped by technological change, geopolitical competition and large-scale industrial investment.

Key ideas from the “Much More Than a Market” report

The report outlines a number of proposals designed to deepen economic integration and support innovation within the European Union.

One proposal is the creation of a voluntary “28th regime.” Under this concept, companies operating across the EU could choose to follow a single European legal framework instead of complying with separate national rules in each member state. The goal would be to simplify cross-border operations and reduce administrative burdens, particularly for startups and growing firms.

Letta also proposes introducing a “fifth freedom” to complement the existing four freedoms of the Single Market. In addition to the movement of goods, services, capital and people, the new freedom would focus on enabling the circulation of research, innovation, knowledge and investment across borders.

Another recommendation highlights regional economic disparities within the EU. Letta describes the need to combine the freedom to move with what he calls the “right to stay,” meaning that economic opportunities should also be available locally so that citizens are not compelled to leave their regions to find work.

More broadly, the report calls for completing the Single Market in sectors where fragmentation remains significant, including energy, telecommunications, finance and digital services.

Discussion at the Green Transition Forum

Letta is expected to expand on these themes during his appearance at the Green Transition Forum in Sofia, where he will deliver a keynote address.

Organisers say he will also participate in a closed discussion with business leaders and policymakers from Central and Eastern Europe. The conversation is expected to focus on several issues tied to competitiveness and market integration.

These include improving cross-border mobility for companies, talent and capital, expanding access to funding for startups and research projects, and accelerating permitting and regulatory coordination for industrial projects.

Implications for the EU’s economic strategy

The debate surrounding Letta’s report comes as EU institutions consider how to strengthen the bloc’s economic position relative to other major economies.

Policymakers have increasingly linked the effectiveness of the Single Market to broader goals such as technological leadership, energy security and industrial resilience.

The coming years may therefore determine whether the EU pursues deeper integration through initiatives such as the proposed “One Market Act,” a potential legislative package aimed at reducing remaining barriers between national markets.

With discussions expected to intensify ahead of future policy milestones in the second half of the decade, proposals emerging from Letta’s report could play an important role in shaping the next phase of the EU’s economic integration.