The story of One Market, One Law began long before the association itself was created
In 1986, Jacques Delors launched the Single European Act, laying the foundations of the European Single Market around a simple and powerful idea: One Europe, One Market.
At the end of the 1980s, European leaders took the next decisive step by creating the euro, driven by another compelling vision: One Market, One Currency. A single currency became, in many respects, the natural extension of the Single Market.
In 2015, the Association Henri Capitant and the Fondation pour le droit continental launched the European Business Code initiative. The underlying conviction was straightforward: a Single Market and a single currency can only operate at their full potential if they are supported by a coherent and common framework of business, commercial and company law.
A decade later, the Enrico Letta and Mario Draghi reports on the future of the Single Market and European competitiveness brought the completion of the Single Market back to the centre of the European agenda.
During a discussion with Annamaria Abbafati of the Brussels-based consultancy MUST Consulting, it became clear that the expression European Business Code did not fully convey the ambition of the project. Annamaria suggested a new baseline that immediately captured its essence:
One Market, One Law.
This simple yet powerful idea inspired the creation in Brussels of the One Market, One Law Association, founded by 24 members. The Association is chaired by Michele Grégoire, with four Vice-Chairs: Günther Krings, Alberto Saravalle, Philippe Dupichot, and Pierre-Emmanuel Noël.
Today, it is increasingly evident that One Market, One Law is one of the missing building blocks for a truly efficient and competitive European Single Market.
And EU.inc and the 28th optional regime launched by President von der Leyen give all its meaning and purpose to the One Market, One Law Brussels initiative.
Perhaps the European vision can now be expressed in four successive steps:
One Europe, One Market, One Law, One Capital Market.
Only by completing the two missing pillars, One Law, be it optional when possible thanks to the 28th optional regime, and One Capital Market can Europe fully unlock the potential of its economy and strengthen its global competitiveness.