They must then use the increase in size and critical mass as a platform for maintaining the current rate of growth, addressing the pressing fiscal and debt problems, and restructuring the economies to make them more competitive so that they are capable of sustaining high rates of growth over long periods of time.
The achievement of a consistent level of real growth at the six per cent level would be critical for increasing income levels, lowering unemployment and reducing poverty. Under the umbrella of a wider economic and financial space within the currency union, it would be easier to effect public sector reform, financial sector reform, and private sector development.