Sigma Live

Damianos: Consumer Protection is a Cornerstone of the Single Market

Published January 27, 2026, 15:14
Damianos: Consumer Protection is a Cornerstone of the Single Market

The Minister of Energy, Commerce and Industry, Michalis Damianos, and the Deputy Minister of Research, Innovation and Digital Policy, Nikodimos Damianos, presented the priorities of the Cypriot Presidency to the European Parliament's Committee on Internal Market and Consumer Protection (IMCO) in Brussels. Mr. Damianos stressed the importance of consumer protection as a cornerstone of the Single Market, emphasizing the need for a high level of protection. The Cypriot Presidency takes office at a time of geopolitical uncertainty, increasing global competition and rapid technological change, which is putting pressure on Europe's economic model. These developments directly affect the functioning of the Single Market and require a coordinated European response. The political vision of the Cypriot Presidency is summarized in the motto “An Autonomous Union. Open to the World,” aiming for a competitive, resilient and capable Europe that remains open and based on common values. Strengthening and completing the Single Market is a central political priority. Mr. Damianos described the Single Market as Europe's greatest economic achievement, but noted that its full potential is limited by fragmentation, uneven application of rules and administrative complexity. The Presidency will focus on monitoring the Single Market Strategy, improving enforcement of rules and preventing the creation of new barriers.