27 Dec '11, 3am

Despite problems, economists still see euro benefits: In the midst of a crisis that threatens the very survival

PARIS: Ten years after it went into circulation, experts judge the euro to have helped cut inflation but say hopes it would boost growth were dashed by a lack of policy coordination. In the midst of a crisis that threatens the very survival of the currency, economists were somewhat pressed to find something to sing its praises about. "They (the advantages) don't exactly leap out at the moment," noted dryly Agnes Benassy-Quere, head of France's CEPII institute on international economics. Despite the current pessimism, however, economists agree that the longer-term benefits of the euro have been real and tangible, even if some helped set the stage for the current crisis. The end of currency exchange risk and costs helped reinforce the integration of European markets, boosting trade between those countries which adopted the common currency. New studies showed this benefit to ...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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