Above all, it is important that policy-makers are not dazzled by the initial advantages of the single currency. If accompanied by a complacent attitude, these advantages can become a trap and a risk to economic sustainability. 7. Concluding remarks In short, the balance of the Portuguese experience with the euro is very positive and has represented a key regime change.
The euro promoted a move towards a regime characterised by structurally lower and less volatile interest and inflation rates and led to important structural changes in the Portuguese economy. For the EU as a whole, the creation of the single currency 20 years ago was a pivotal moment in the history of European integration.