"The economic and monetary Union is as safe as houses", "an undisputed success"; "at such a time, of great uncertainty, where energy and food prices are rising out of all proportions, we should be glad to have a single currency based on a market that includes 320 million people". Joaquin Almunia, EU Commissioner for monetary affairs, takes stock of the first ten years in the life of the euro; the decision to create the currency was taken in 1998 and the European Central Bank started working on June 1st that year. The euro became a reality, while as a circulating currency it began to be used in 2002. From the first 11 countries, today the euro is used in 15 countries and Slovakia is expected to join too. Almunia highlights problems as well: "A lot remains to be done. The governance in the euro-zone and the coordination of the monetary policies must improve" to "become more effective". Actually, the "economic decisions of one country affect all the others". Hence the endless need to watch over inflation, public balances, the ratio of Gross Domestic Product to debts. (continued)
