If we are serious in wanting more growth, more jobs created, more and better research and development, better social security and to fight more effectively against poverty, we need more money and more of the European Union.

Without waiting for the fuller study which the Commission is currently preparing on this subject, the costs and benefits of economic and monetary union can be grouped under five main headings: - the manifold advantages of permanent price stability; - stronger economic growth as a result of increased cost savings and market integration; - an impact on public finances due to the fall in average interest rates; - an impact on employment and regional balance given that it will no longer be possible for adjustments to be made through changes in nominal exchange rates; - finally, an impact on the international economic and monetary system, with the benefits of a more prominent ...[+++] Community presence and of the growing role of its single currency.