In the absence of national monetary policy and national exchange rates in the European Monetary Union,
A)that Union cannot survive.
B)that Union will have to expel members who do not agree to austerity measures.
C)there are still steps that the Union can take to survive.
D)That Union will have to be bailed out by the European Central Bank.

Question

Quizplus · Accepted Answer

Even though there is no national monetary policy and exchange rates, the European Monetary Union can take steps such as implementing fiscal policies, creating a banking union, and strengthening financial regulations to survive. These measures can help stabilize the economies of member countries and prevent financial crises.

In the Absence of National Monetary Policy and National Exchange