The relative size of the euro area economy and its degree of openness are factors that support the international role of the euro. Chart 5 compares the size of the euro area economy as measured by its GDP and its population with that of the United States in 1999 and 2007.
BIS Review 126/2007  1  I must commend initiatives in the recent past by banks to introduce niche products such as those targeting Small and Medium Enterprises and bundled products charging a flat fee for a basket of services. But more needs to be done in this arena.