The euro as an intended step towards strengthening the EU and the single market

The common currency was another step in the process of integration intended to strengthen and bind together the European Union and the common market. Some economists, particularly American ones, warned against the economic consequences of introducing the euro. But in Europe the opinion prevailed that the common currency would strengthen the European Union and improve its functioning. In particular member states, the prospect of a common currency inspired a wide range of hopes and fears – often complete opposites. For ten years it seemed that the introduction of the new currency was an undeniable success.