Looking at a simple electric circuit: battery, resistor and diode.
The applied voltage of the battery (V_a) drops on both the resistor and the diode. Thus, at a closed loop the voltage is zero.
In the PN diode there is a voltage development due to the difference between the Fermi-levels of the two semiconductors (N-type, P-type).
SO, why does this voltage is not the same as that of the battery. Why does it has an effect only to the diode itself?