European Union members should work on fostering closer integration, enabling greater innovation and fighting for the bloc’s sovereignty, Isabel Schnabel has said.

Speaking on a panel at the Peterson Institute for International Economics Spring Meetings on April 16, the ECB board member said the EU’s single market continued to be hampered by internal hurdles, and that this was “especially true” for services. These hurdles, she said, were “several times” higher than the tariffs the US had imposed