| i. It comprises of 17 nations. |
| ii. Britain and Denmark have voluntarily kept out of it |
| iii. After joining Eurozone the control of Monetary policy passes on to ECB. |
A) i & ii
B) ii & iii
C) Only ii
D) All the above
Correct Answer: D
Solution :
It comprises of 17 nations (out of total 28) who have adopted Euro as the common currency. Euro as single currency was launched in 1999. Britain and Denmark have voluntarily kept out of it - the 'opt out' states- for reasons of economic sovereignty 'Derogation states' are the EU member nation who are taking steps to adopt Euro. All EU manures nations except 'opt-out states' have to adopt European though each member is given time to take measure to be eligible to adopt Euro i.e. They are given time to meet the Convergence Criteria. The monetary policy for Euro is the sole prerogative of European Central Bank i.e. after joining Eurozone the control Monetary policy passes on to ECB.
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