In fact, 60 per cent of the volume of euro area trade1 is denominated in our single currency. The appreciation of the dollar, however, clearly has an impact on the prices of energy, particularly oil and gas.
This decline in worldwide inequality is a big change, reversing a trend of steadily higher inequality between countries that has held since the Industrial Revolution.2 The reduction in inequality is driven by some big trends: better economic policymaking, growth in world trade, the spread of technology and finance, and more education.