If the dynamic effects from increased competition are taken into account, the number is expected to be higher. Air travel offers an example of what can happen. Due to liberalisation and competition, air travel within the EU has come within reach of tens of millions of people, often at lower fares than 20 years ago.
We knew a time when markets did not distinguish between the signature of Greece and that of Germany, when a majority of observers felt that the Stability and Growth Pact was a too tight corset which prevented Europe from breathing, and when the whole world believed that IMF loans had become useless. That was still the case in early 2007!