The EU’s single market should not just be one among several priorities for the new
Commission and Parliament. The single market was and is the core business of the EU.
Much of what goes on or is proposed under elaborate titles is actually part and parcel of
the single market. The striking revelation of Brexit for many EU citizens and all businesses is
precisely the centrality of the single market (including the customs union) to EU membership.
Its value is first of all economic, of course, as it yields higher prosperity. However, it is critical in
other arenas where ‘EU clout’ derived from the single market matters, such as multilateral and
bilateral trade negotiations, global climate deals, standard setting, rule-making for international
financial stability and even foreign policy