Why did the euro not work for trade during the 1990s?
A) It had no single political authority.
B) It included transaction costs.
C) It did not allow for easy currency change.
D) It was never a reserve currency.
E) It was unable to balance taxes and government spending.

Question

Quizplus · Accepted Answer

The euro was introduced in 1999, but during the 1990s, the European Union lacked a single political authority to enforce fiscal policies uniformly across member states, which hindered its effectiveness in trade.

Why Did the Euro Not Work for Trade During the 1990s