These concerted efforts will allow SMEs to adopt new technologies and benefit from economies of scale as they will gain access to international distribution channels and to foreign markets. vi.
Another is that the monetary union, with its single monetary policy and 19 independent national fiscal policies, is sui generis in terms of its structure and differs vastly from other currency areas. However, I believe that our intense discussions ultimately resulted in better decisions. It was a challenging time when occasionally difficult decisions had to be made under time pressure and with far-reaching consequences.