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According to the author, the introduction of the euro has created the second largest economic space in the world. However, this economic space is not without its quandaries. For example, the author predicts that the exchange rate for the euro is going to increase only after the conditions for investments within the euro space have improved. All the EU governments must work on structural reforms of the labor market & the social policy. This will be facilitated once the euro has become an international currency equal to the dollar. For this to occur, a political union in Europe must be created since a successful currency needs political clout as a back-up. Adapted from the source document.