The conditions for joining the "Euro" single-currency block led a number of European countries to ________ and consequently reduce their debt-GDP ratios.

Question

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Joining the Euro requires meeting the Maastricht Criteria, which includes a maximum debt-GDP ratio of 60%. Therefore, countries had to tighten fiscal policy in order to reduce their debt levels and meet the criteria. This included reducing government spending, increasing taxes, and reducing deficits.

The Conditions for Joining the "Euro" Single-Currency Block Led a Number