Single currency ‘boosts eurozone trade’

Research by economists at the Inter-American Development Bank in Washington suggests that in the three years since the euro was launched, trade between countries in the eurozone has been increased by 12-19% as a result, reinforcing the argument that the single currency has created a more genuine single market in Europe. However an anti-euro paper published by the Institute of Economic Affairs on 9 September 2002 said increased trade between closely integrated countries was not necessarily linked to currency union.