The institution similar to the Federal Reserve System in the United States that would control the money supply and issue the single currency of the European Union is the:
A)European Monetary System
B)European Currency Unite
C)European Central Bank
D)European Monetary Institute

Question

Quizplus · Accepted Answer

The European Central Bank (ECB) is the institution responsible for controlling the money supply and issuing the euro currency in the European Union. The European Monetary System (EMS) refers to a system formerly in place which helped to stabilize currency exchange rates in Europe, but it was replaced by the Economic and Monetary Union (EMU) in 1999. The European Currency Unit (ECU) was a basket of currencies used as a unit of account by the European Community before the introduction of the euro. The European Monetary Institute (EMI) was a precursor institution to the ECB, which was responsible for preparing the transition to the euro.

The Institution Similar to the Federal Reserve System in the United