Question

QUESTION 21 Under the O GATT Agreement O NAFTA O European Unification Act member countries of the European Union agreed to adopt a common European currency called the euro Maastricht Treaty O APEC Treaty

Answer 1

Ans. Maastricht Treaty

The Euro came into existence on January 1, 1999, under the provisions of 1992 Masstricht Treaty which came into force in 1993 and whose mandate was to create an economic and monetary union of all member nations of the European Union except United Kindom and Denmark. These two countries decided to continue with thier own currencies. Maastricht Treaty was in fact the treaty to form European Union which for obvious reasons included establishment of Euro as a common currency