It increases the confidence of economic agents and is therefore favourable to growth and job creation. Had the single currency not existed, the various crises that have occurred at the global level over recent years would have translated into major turbulence for our economies. My third comment relates to the very powerful impact the euro has had on the creation of the Single Market.
The euro has led companies to see the euro area as a whole as the relevant domestic market for their business, rather than their own national markets as in the past. In this respect, the single currency has undoubtedly been a catalyst for the progressive reshaping of the European productive sector, which are in turn creating a more efficient and vibrant economy.