Former Italian PM Letta recommends the creation of a pan-European IPO venue for SMEs in his report on the future of the Single Market
18 April 2024
Former Italian Prime Minister Enrico Letta speaking the the 2023 SME Assembly
Called for by the European Council on 30 June 2023 in response to “a more conflictual, volatile and complex world,” former Italian Prime Minister Enrico Letta’s report on the Future of the EU Single Market, titled ‘Much more than a market,’ has been published.
In his report, Letta recommends to EU leaders that the European Markets and Security Authority (ESMA) should oversee the creation of a pan-European IPO venue for small and medium sized businesses. Other recommendations include the creation of an EU stock exchange tailored for deep tech startups or the establishment of a European code of business law for a more unified and simpler Single Market.
The report also details concrete and ambitious recommendations to guide the strategy of the Single Market and to allow it to remain competitive with emerging global powers such as India and China.
In order to write this report, which may come to define the future of the Single Market for years to come, Letta participated in the 2023 SME Assembly, organised by LOW Associates on behalf of the European Commission’s DG GROW and EISMEA. There, he was able to engage with organisations that support SMEs from all over Europe, all at once, to further understand the main issues at stake and develop recommendations to unleash the potential of European SMEs.
“The future of the Single Market will be a future of opportunities if we consider the voice of SMEs as crucial,” he told LOW Associates’ Martina Fumagalli in an interview during the 2023 SME Assembly.
LOW Associates' Martina Fumagalli pictured with Enrico Letta after their interview together
Letta's report also highlights the importance of European SMEs to the Single Market: "SMEs are catalysts for innovation, tackling pressing issues like climate change, resource efficiency, and social cohesion, spreading their solutions throughout Europe."
Access the report: much-more-than-a-market-report-by-enrico-letta.pdf (europa.eu)
Find more information about Mr Letta’s visit to the 2023 Assembly in the video below:
