Which of the following was an argument AGAINST Britain's adopting the euro?
I. Using the same currency as many other European countries would discourage trade and decrease productivity.
II. Using the euro would decrease the effectiveness of monetary policy.

Question

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Argument II is against Britain's adopting the euro, as it suggests that using the euro would decrease the effectiveness of monetary policy, i.e. the ability to control inflation and economic growth. Argument I is actually in favor of adopting the euro, as using the same currency as other European countries would likely increase trade and productivity through reduced transaction costs and increased price transparency.

Which of the Following Was an Argument AGAINST Britain's Adopting