While some bold, integrative steps  BIS Review 125/1999  6  may at times be required in response to external developments, Europe’s policymakers, economic agents, and most importantly, its citizens must be given the time to gradually adapt to the conditions brought about by the single currency, to cope with the dynamics of the “Greater Europe” and to realise the increased responsibility of an integrated Europe in the wider world.
It is in this way, and with a substantial effort on the part of all those involved - bodies, institutions and citizens alike - that Europe will be ready to face the challenges ahead. 7  BIS Review 125/1999