Graph 6  Closure of international borders to most movements of people is affecting Australia's international trade and will continue to do so over the forecast period. International tourism will be infeasible until borders reopen, and will probably only recover slowly.
A country can be outside the monetary union, but still sign up for the fiscal compact, or join the soon-to-be-established Single Supervisory Mechanism (SSM). The line between helpful inclusion and potentially damaging exclusion is not so clear any longer. But as this audience knows better than most, how these issues are resolved will have profound implications for businesses in Central and Eastern Europe.