There is, however, an urgent need for the alternative scenario to be seriously considered, as the currency union is faced with major challenges from both external and domestic factors, which could threaten the continuation of growth.
The external factors which could affect us would include: high oil prices, an increase in international interest rates, the impact of changes in trade regimes such as those connected with the WTO, the FTAA, the European Union, and the CSME, and the performance of the US dollar against other international currencies.