The economic and monetary union of 15 European Countries is proposed to be made by 1999. But the currencies of

Question

The economic and monetary union of 15 European Countries is proposed to be made by 1999. But the currencies of two countries, Franc, have already the same value and circulate freely in both the countries. The countries are

Accepted Answer

The correct answer is C because Luxembourg and Belgium maintained a monetary union long before the creation of the Euro. Starting in 1922 under the Belgium Luxembourg Economic Union, the Belgian Franc and the Luxembourg Franc were pegged at a one to one ratio. This allowed the two currencies to be interchangeable and circulate freely as legal tender in both nations until they both adopted the Euro. France and Switzerland did not share such a union, as Switzerland is not part of the European Union monetary agreements and maintains its own independent Swiss Franc.

Answer

France and Switzerland

Answer

Switzerland and Luxembourg

Answer

Luxembourg and Belgium

Answer

France and Belgium

The economic and monetary union of 15 European Countries is proposed to be made by 1999. But the currencies of two countries, Franc, have already the same value and circulate freely in both the countries. The countries are

Explanation

Related questions