In this manner, the euro acted as a catalyst for the Single Market, within which goods, services, people and capital are to move freely. Nonetheless, a lot remains to be done, for instance, in order to increase services trade and labour mobility and to reduce structural rigidities. 3.
Economic integration and adjustment processes in the euro area  Let me now turn to adjustment processes whose smooth functioning is important in all EU countries but particularly in the euro area. Why is an efficient adjustment mechanism particularly important in the euro area?