Europe’s economy could be boosted by €800 billion – equivalent to 6% of current GDP – if more action is undertaken at EU level, according to a study by the European Parliament. Creating a digital single market alone would generate an additional €260 billion, more than Denmark’s estimated GDP for 2014. The study looked at the cumulative efficiency gains of a series of policy actions at the European level to help set priorities for how the EU should invest its money the coming five years.
The potential efficiency gains identified vary from a wider and deeper digital single market to better coordinated national and European policies for defence and development. These beneficial policies have already been advocated by the Parliament in the current legislative period. While fully respecting the subsidiarity principle, MEPs always try to identify opportunities for greater efficiency at the European level
The study was carried out to identify the opportunity cost of not acting at the European level. The analysis draws in part on work carried out by parliamentary committees and major requests made by the Parliament in its various legislative and own-initiative reports.
To find out more about the benefits of more Europe and how they could be realised, check out our infographic.