At the beginning of 1999,the European Monetary System became the _________________ with the introduction of the euro and the adoption of a common monetary policy by the European Central Bank.
A)European Monetary Institute
B)European Monetary Union
C)European Currency Unit
D)European Monetary Cooperation Fund

Question

Quizplus · Accepted Answer

The European Monetary System became the European Monetary Union at the beginning of 1999 with the introduction of the euro and the adoption of a common monetary policy by the European Central Bank. The European Monetary Institute was the precursor to the European Central Bank, the European Currency Unit was a unit of account used in the European Community before the introduction of the euro, and the European Monetary Cooperation Fund was a fund established to provide financial assistance to member states with balance of payments problems.

At the Beginning of 1999,the European Monetary System Became the _________________