currencies and adopted a new common currency, the euro. Several recent papers argue that the introduction of the euro has led (by … put the trade effect of the euro in historical perspective. We argue that the creation of the EMU was a continuation (or … integration, the euro's impact on trade disappears. Moreover, a significant part of the trend in European trade integration is …

euro was introduced, replacing the ECU on 1st January 1999. Comparing the euro to such proposals, we note at least two … differences. The euro (a) did not start as a parallel currency, but replaced with a pre-announced schedule the national currencies …