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The Single Market and Common Policies in Uncommon Circumstances

Giuseppe Bertola
CESifo, Munich, 2023

EconPol Forum 24 (5), 09-13
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  • Markets can deliver growth but need help from government provision of infrastructure, regulation, stabilization, and redistribution
  • In the 20 years since the 10th anniversary of the Single Market, growth in Europe has remained rela-tively slow
  • Two deep crises revealed underlying problems and prompted the introduction of new instruments in the European policy framework
  • The market currently faces dramatic challenges from war and international tensions and suffers from the effects of subsidy-and-debt policies that persist after the Covid-19 pandemic
  • Deep divisions across and within member countries and between Europe and the rest of the world unfortunately hamper efforts to coherently configure European policies

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