The rate of increase in extra-euro area exports and imports of goods and services even exceeded  2  BIS Review 63/2008  In addition, the euro is acting as a catalyst for a single market in financial services and a gradual portfolio reallocation away from holdings of domestic financial instruments and towards holdings of financial instruments issued elsewhere within the euro area.
That means, in an emergency, buying up the government bonds of the crisis-ridden countries and taking on risks amounting to billions for which in the end German taxpayers above all would be liable. Can you understand that many German citizens are at odds with this? Draghi: Weber and Stark resigned before my arrival at the ECB.