The article cites a study which focused on the views of American and European logistics executives on the impact of the Europe 1992 program on the firm in general and the distribution/logistics function in particular. The introduction of the euro confirms the advent of a genuine culture of stability in Europe. The eleven Euro-members form an economic block of 290 million inhabitants with an estimated combined gross domestic product of over $6,300 billion. This is comparable to the U.S. domestic market, with some 265 million inhabitants and gross domestic product of $7,300 billion. The psychological effect alone of allowing consumers one-market shopping without national constraints will have a profound impact on production and consumption in Europe. The euro heralds the birth of the European consumer, whose purchasing power will be guaranteed by the stability of the single currency. The fundamental significance of full economic integration is the increase of actual or potential competition.