On 16 February 2026, the Dublin European Law Institute (DELI) hosted a high-level event with Prof. Enrico Letta and Minister of State Thomas Byrne to mark the official launch of COMPETE (Competitiveness, Opportunity and Money: Promoting the Economic Transformation of the EU), a Jean Monnet Centre of Excellence at Dublin City University (DCU).
The event started with the introduction by Professor Dáire Keogh (President of DCU), remarking the alliances among university and the importance of being a European university in Ireland. Then, the project, described by Founding Director Professor Federico Fabbrini as a prestigious three-year award from the European Commission, aims to explore challenges to EU economic resilience and serve as a hub for public sector partnerships.
Enrico Letta, former Prime Minister of Italy, delivered a keynote focused on his proposal, “Much More than a Market”. He argued that the EU cannot face modern global challenges —such as the war in Ukraine, China’s rise, and a second Trump presidency—using tools created 35 years ago. Letta proposed this new framework to prevent market fragmentation and complete the single market through six specific pillars:
- Three Vertical Pillars: Saving and investments union; Connectivity; and Energy union.
- Three Horizontal Pillars: the 5th Freedom (focused on research and innovation), the 28th regime (unified legal regime for businesses) and the Freedom to Stay (promoting social and territorial cohesion).
Letta finalized emphasizing that this unity is the only effective response to international protectionism and noted that the most powerful ideas are “actions, not reactions”. The first part concluded with the speech from Minister Thomas Byrne (Minister of State for European Affairs and Defence), who highlighted the historical importance of the Single European Act for Ireland’s growth, noting that the EU must not “retrocede” to the situation before the Maastricht Treaty.
The first roundtable had a panel of industry and policy experts, who discussed the practicalities of economic security. Danny McCoy (Ibec) warned that inflation and energy costs are currently pushing the EU in the “wrong direction”. Valerio Scollo (GSK Stockmann) addressed the necessity of a Savings and Investment Union. Massimo Fabio (KPMG Italy) discusses the intersection of CO2 restrictions and service growth opportunities, and Andrew Byrne (Department of Foreign Affairs) noted that competitiveness and simplification are core priorities for the upcoming Irish presidency of the Council of the EU.
The second panel explored the regulatory hurdles of integration. Dr. Christy Ann Petit noted that political resistance and confidentiality remain significant barriers to a financial services union. Dr. John Quinn discussed the “28th regime”, which would provide a business-friendly alternative to navigating 27 different national regulations. He indicated that work on this regime could start as easily as April 2026, thought its implementation remains complicated by national competences and digitalization issues. Dr. Ian Cooper exposed general remarks about the COMPETE project and highlighted the idea that competitiveness is not contrary to improve social policies. Finally, Dr. Niall Moran emphasized that competitiveness is directly tied to the environment created by free-trade agreements.
The event concluded with a consensus that the EU must evolve beyond its original four freedoms to include and integrate new areas, such as knowledge, energy and financial markets to remain globally competitive.