The Maastricht Treaty of 1992 set out a programme for the European Monetary Union (EMU) . In order to take part in the proposed single currency, countries had to fulfil five 'convergence criteria'. Which of the following was not one of the criteria?
A) Budget deficit not more than 3% of GDP
B) Unemployment not more than 2% more than the average of the three lowest countries
C) National debt not more than 60% of GDP
D) Exchange rate within the ERM bands for at least two years
Correct Answer:
Verified
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