For example, the euro area Beveridge curve – which summarises unemployment developments at a given level of labour demand (or vacancies) – suggests the emergence of a structural mismatch across euro area labour markets (Figure 3).
The Authorities of these countries committed themselves to the introduction of a single currency and the establishment of a common central bank by the year 2003 for eventual merger with the UEMOA zone by the year 2004 under the aegis of the ECOWAS integration programme.