… neutral in itself. lt is therefore useless to reject it out of hand or to praise it to the skies. lt will serve Europe according to how the politicians and peoples of Europe use it. lt could prove a powerful instrument capable of ensuring longevity and a significant place for the EU in the world, and of imposing the political developments that are needed for citizens to control the European integration process.
The move to a single currency is not only the most important economic challenge the European Union has taken on in its forty years of existence, but it is above all the most significant political challenge it has ever faced.
Franck Biancheri in “From a single (EU) Currency to a single (EU) Citizenship” (1997)