Which of the following is true of the transition process of individual European currencies to the euro?

Question

Quizplus · Accepted Answer

During the transition process of individual European currencies to the euro, bank balances in participating countries were converted to euro-denominated deposits. The actual paper and coin currencies in circulation in individual countries were gradually replaced with the euro currency. The gold deposits that were kept by the individual countries with their central banks were not recalled. The process was indeed complicated and time-consuming, taking several years to complete.

Which of the Following Is True of the Transition Process