After years of intense and thorough preparation, the launch of the single currency in Europe was accomplished successfully. Today, just a little more than two weeks after this historic event, it is a great privilege for me to be here at the European Parliament for another exchange of views with your committee.
Also economic agents can invest more easily in any part of the euro area and thereby spread the risk of potential local shocks having an impact on income and consumption. 7 In 1973 Robert Mundell made a second seminal contribution to the debate on currency areas.