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ECB's Santos Pereira pushes for deeper EU integration - Finance news and analysis from Global Banking & Finance Review
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ECB's Santos Pereira pushes for deeper EU integration

Published by Global Banking & Finance Review

Posted on October 22, 2026

1 min read

· Last updated: October 22, 2026

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ECB Policymaker Urges Deeper EU Integration in Services, Transport and Energy

ECB Official Highlights Need for Enhanced European Integration

LISBON, Oct 22 (Reuters) - ECB policymaker Alvaro Santos Pereira said on Thursday that Europe's difficult geopolitical environment and technological shortcomings show it is time to give fresh momentum to European integration by deepening the single market in services, transport and energy.

Growing Calls for Removing Barriers

• The remarks by Portugal's central bank governor add to growing calls from European policymakers to deepen integration and remove barriers seen as weighing on the bloc's competitiveness and growth.

Progress and Remaining Fragmentation

• The single market reduced many forms of fragmentation, he noted, but significant barriers persist.

Complex Challenges Rooted in National Regulations

•  The remaining challenges are more complex because they are rooted in national institutions and regulations, he said at a conference.

Key Areas for Further Integration

• It was vital to complete integration in areas where it remains limited, including services, transport and energy, he added.

Reporting Credits

(Reporting by Sergio Goncalves; Editing by Kirsten Donovan)

Key Takeaways

  • Santos Pereira underscores that despite past progress, persistent fragmentation in the single market—especially in services, transport and energy—must be overcome to boost competitiveness (Reuters)
  • Recent EU analysis shows trade integration in services remains slow—services make up under 8% of intra‑EU GDP compared to nearly 24% for goods—and barriers equate to a 110% tariff in services and 44% in goods (IMF, Commission)
  • The EU has launched ambitious structural agendas like the “One Europe, One Market” and the ‘Terrible Ten’ barrier initiative, aiming to harmonize regulatory frameworks, slash administrative burdens and complete integration in critical sectors by 2027

Frequently Asked Questions

Who is calling for deeper EU integration?
ECB policymaker and Portugal's central bank governor Alvaro Santos Pereira is calling for deeper EU integration.
Which sectors does Santos Pereira emphasize for deeper integration?
He emphasizes services, transport, and energy sectors for further EU integration.
What are the main challenges to EU single market integration?
Significant barriers persist, rooted in national institutions and regulations.
Why is deeper EU integration being urged at this time?
Europe's geopolitical environment and technological shortcomings highlight the need for renewed integration efforts.
What benefits has the EU single market already brought?
The single market has reduced many forms of fragmentation within the bloc.

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