While asymmetric shocks and adjustment mechanisms have to be recognised as realities, they also have to be seen in a more general framework, within which all gains from Stage  2  BIS Review 20/2002  Three of EMU are taken into account. These gains are sizeable.
From a political point of view, monetary unification, as part of a more general process of European integration, should be seen as bringing long-lasting peace and a higher level of co-operation between participating countries. From an economic point of view, monetary unification should be seen as bringing greater prosperity and stability.