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For all that it has clearly had profound effects already, and will have even deeper ones after January 1, the euro by itself can only do so much. It is best seen as one, albeit central, element of a bigger project: to create a true single market in Europe. This view is supported by plenty of academic research on the effects of single currencies on economies and businesses. One useful strand of research led by Andrew Rose, an economist at the University of California at Berkeley, suggests that thanks to the single currency, intra-European trade should fairly quickly double or even treble in volume. If that turns out to be correct, then Europe will greatly surprise the numerous pessimists who have bemoaned its inability to pick up where America’s decade of extraordinary economic growth has left off.

The main idea of the paragraph

According to the research by some experts, the adoption of the Euro may greatly promote the growth of economies and businesses of the member countries of the European Union, though its role in the overall development of the EU is limited.

根据一些专家的研究，虽然欧元本身在欧盟整个发展中的作用是有限的，但是，统一采用欧元会极大地促进欧盟成员国经济的增长。

词语解释：

1、albeit

formal; although 虽然 e.g.

1）The evening was very pleasant, albeit a little quiet. 那个夜晚过得很愉快，虽然有点安静。

2）He accepted the job, albeit with some hesitation. 虽然有点犹豫，但他还是接受了那份工作。

2、turn out

to have a particular result, especially one that you did not expect 结果是 e.g.

1）It was a difficult time, but eventually things turned out all right. 那是段困难的时光，但最终的结果还都不错。

2）Julie has turned out to be the best student in our class. 结果证明朱莉是我们班上最好的学生。

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• Summary