The single currency and the Single Market in Europe are often discussed using the optimum currency area literature as a theoretical framework. The essential foundations of this literature were elaborated in studies by Mundell (1961), McKinnon (1963) and Kenen (1969) in the 1960s.
Greater attention must be paid to the coordination of policies at a supranational level and to the sharing of data and  3  statistics in order to correctly measure and interpret the economic variables as well as the channels through which the effects of these policies will meet their intended target.