Which of the following countries is a member of the EU but has not switched to the Euro as its official currency? (Multiple Answers). 1. Greece 2. Sweden 3. Spain 4. Germany 5. France 6. italy
Which of the following countries is a member of the EU but has not switched to the Euro as its official currency? (Multiple Answers). 1. Greece 2. Sweden 3. Spain 4. Germany 5. France 6. italy
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Which of the following countries is a member of the EU but has not switched to the Euro as its official currency? (Multiple Answers).
1. Greece
2. Sweden
3. Spain
4. Germany
5. France
6. italy
Expert Solution
Step 1
The formation of the European Union in 1991 led to calls for a common currency for its member states in order to make the functioning the economy a smooth process. On 1st January 1999 the official currency, euro, came to be adopted. Initially it only existed as electronic money used for bank exchanges. It was in 2002 that coins and notes were printed and minted for the first time.
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