This scenario envisions that consumer spending - supported by rising incomes and the recent decline in energy prices - will continue to grow near its trend rate, and that the drag on the economy from the motor vehicle and housing sectors will gradually diminish.
And it was one of the milestones laid down by the founding fathers of Economic and Monetary Union in the Treaty of Maastricht more than 20 years ago. Over the years, euro banknotes have become the most visible symbol of European integration. The single currency, the euro, was conceived as a key step towards that goal.