The trade barrier removal effects of a single European currency: similarities with the Single Market measures

The trade liberalising measures of the Single Market of the European Union have had a significant impact on business strategies. The establishment of European Monetary Union is also expected to have an influence on European trade since firms will be more inclined to exploit European markets. This paper brings evidence derived from a survey of South Yorkshire manufacturing companies to look at the impact of the Single Market measures on competition. Parallels are drawn with the likely reaction to the extra competition brought about by the establishment of the European Monetary Union.