Market Chatter: Germany, France Reportedly Seeking New EU Powers to Cut Single Market Access

12:03 PM EDT, 10/05/2026 (MT Newswires) -- Germany and France are said to be calling on the European Union to take on new powers that could sever access to the bloc's single market to countries that destabilize trade ties, Bloomberg News reported Monday. In a letter to European Commission President Ursula von der Leyen seen by the news outlet, Germany and France are reportedly proposing the said powers and an instrument that would compel Europe to scale back its dependence on foreign suppliers. The issue will be discussed at an EU summit scheduled for the week of Oct. 12, Bloomberg said. The German and French governments did not immediately respond to MT Newswires' requests for comment. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)