The euro also helps to strengthen trade and financial linkages across euro area countries. There is clear evidence that the introduction of the single currency and the associated increase in price and cost transparency have fostered both intra and extra-euro area trade in goods and services. 3  1  See ECB Monthly Bulletin, May 2008.
4  For details, see Kawata et al. (2013). 5  For details, see Bank for International Settlements (2012). 2  BIS central bankers’ speeches  financial imbalances are clear, they might be unable to gain sufficient support from stakeholders at an early stage regarding the need for a policy response.