The European business community thus has ample opportunities to reap the benefits provided by the introduction of the euro. 6 It is more difficult to predict the future role of the euro in international financial markets. Fortunately, at the European level agreement has been reached on legal provisions that guarantee the continuity of ECU contracts.
This provides a good starting point for euro capital markets. Ultimately, however, the choice of currency in which to borrow and lend depends on the depth and liquidity of the underlying market. Presumably, some segments of the euro market will become deeper.