European Economy. Annual report on the euro area 2007.

Abstract

Earlier this year, European leaders endorsed a solemn declaration in Berlin to mark the 50th Anniversary of the Treaty of Rome and reaffirmed their commitment to a project that has paved the way for peace and prosperity in Europe. Economic integration is central to this European success story. A gradual elimination of economic barriers over the last half-century has helped to raise living standards, ensure a fairer deal for consumers, create new opportunities for investors and foster closer economic and political ties between Member States. As the Berlin declaration says, "the common market and the euro make us strong".