In which year did the Cyprus pound enter the exchange rate mechanism ERM II, a step on the way to the euro?
Answer and explanation
Correct answer: C. 2005
- Step 1: The step came three years before the euro was adopted. Step 2. The pound joined ERM II in May 2005 and the euro replaced it in January 2008. Answer: 2005. Why not the others: 1999 and 2002 are the dates of the euro's creation and its notes; 2007 was the final year before adoption.
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