What was the consequence for European national governments in meeting the fiscal standards to join the monetary union?
A)Governments sparked considerable economic growth as they balanced their budgets.
B)Governments drastically reduced their borrowing, freeing more capital for business investment.
C)Governments had to reduce health and social benefits for their citizens.
D)Governments had to substantially increase taxes on service industries.

Question

Quizplus · Accepted Answer

To meet the fiscal standards to join the monetary union, European national governments had to reduce their budget deficits and debt levels. This often meant cuts in government spending, including health and social benefits for citizens, in order to balance their budgets.

What Was the Consequence for European National Governments in Meeting