The euro has provided businesses and households with an important set of tangible and visible benefits: lower transaction costs; more transparent and competitive markets and increased trade; greater certainty in saving and investment decisions; easier price comparison; simpler shopping and travel within Europe; easier access to other markets and new business opportunities.
Naturally, the euro has also brought new requirements in regard to the behaviour of economic agents, namely because the exchange rate mechanism to compensate for differences in Member States ceased to be available. The overall success of the Portuguese experience in the convergence period hides important policy fragilities, particularly in the fiscal domain.