Which of the following was not something that several European nations did or experienced when they became members of the eurozone?
A. They gave up control of their own individual monetary policy.
B. They eliminated their own local currencies and adopted a single common currency.
C. Cross-border trade among members suffered a huge decline.
D. They in essence fixed their exchange rates with one another, at a 1-to-1 peg.

Question

05-12-2022
Social Studies

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Which of the following was not something that several European nations did or experienced when they became members of the eurozone?
A. They gave up control of their own individual monetary policy.
B. They eliminated their own local currencies and adopted a single common currency.
C. Cross-border trade among members suffered a huge decline.
D. They in essence fixed their exchange rates with one another, at a 1-to-1 peg.

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varshamittal029 varshamittal029 · Answer 1 · 2022-12-09T01:48:53-05:00

They gave up control of their own individual monetary policy was not something that several European nations did or experienced when they became members of the eurozone.

A currency union made up of 19 European Union (EU) members that have made the euro (€) their only legal tender and have thus fully implemented EMU rules is known as the euro area, or eurozone (EZ). Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia, and Spain are among the 19 nations that make up the eurozone. Bulgaria, Czech Republic, Croatia, Denmark, Hungary, Poland, Romania, and Sweden are the eight non-eurozone members of the EU.

Despite being forced to join once they achieve the euro convergence standards, all save Denmark continue to use their own national currencies. The Eurosystem is the euro zone's monetary authority, and the Eurogroup is a loose association of finance ministers.

Learn more about Eurozone here: https://brainly.com/question/13433737

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