The first step in making the euro the single currency of Europe was:
A)taking steps to make all of the currencies in use in Europe have equal value.
B)linking the value of all currencies in Europe to the USD.
C)the institution of several policies including the freeing of capital flow among member states.
D)obtaining the approval of the International Monetary Fund.

Question

Quizplus · Accepted Answer

The institution of several policies including the freeing of capital flow among member states was the first step in making the euro the single currency of Europe. This included the removal of currency exchange controls among member states and the establishment of a single central bank, the European Central Bank, to oversee monetary policy for the eurozone. It was not about making all currencies equal in value or linking them to the USD, and obtaining approval from the International Monetary Fund came later.

The First Step in Making the Euro the Single Currency