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Regionalism and the European Union

Economic and Monetary Union and the euro

  • 3 things to know
  • Component 3

Overview

Recall questions on the introduction of the euro, the Maastricht convergence criteria and the Stability and Growth Pact.

What you need to know

Answer each one before you reveal it.

Your recallNot started
Numbers

When was the euro introduced as an accounting currency, and when did physical notes and coins enter circulation?

Key term

What is the Maastricht convergence criterion for public debt?

Key term

What is Economic and Monetary Union (EMU)?

Questions from this subtopic

Each one with the model answer underneath.

  1. 1

    What is Economic and Monetary Union (EMU)?

    Model answer

    The process of harmonising economic policies and introducing a single currency among participating EU member states.

  2. 2

    When was the euro introduced as an accounting currency, and when did physical notes and coins enter circulation?

    Model answer

    As an accounting currency in 1999; physical notes and coins in 2002.

  3. 3

    What is the Maastricht convergence criterion for inflation?

    Model answer

    A country's inflation rate must be no more than 1.5 percentage points above the average of the three best-performing member states.

  4. 4

    What is the Maastricht convergence criterion for budget deficit?

    Model answer

    The government budget deficit must be below 3% of GDP.

  5. 5

    What is the Maastricht convergence criterion for public debt?

    Model answer

    Public debt must be below 60% of GDP.

  6. 6

    What does the exchange rate stability criterion for eurozone membership require?

    Model answer

    Participation in the Exchange Rate Mechanism (ERM II) for at least two years without severe tensions or devaluation.

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Democracy and Participation
Political Parties
Electoral Systems
Voting Behaviour and the Media

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Bhikhu Parekh ( –).
193519952000

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Rapid timed gap-fills on the terms and numbers you need to recall without thinking.

ACitizens elect representatives to govern on their behalf.
BRepresentatives are accountable through free, regular elections.
CGovernment is carried out through parties and Parliament.

Build It gets the exam shape right

Assemble a full-mark answer from its marking points, in the order an examiner wants them.

Patriotism means attachment to one’s country.
TrueFalse

Test It catches misconceptions

Spot the fault in a statement. The traps are the mistakes students actually make.

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Short focus games to reset attention, so the next set lands better than the last.

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Attempt a question from memory, write the correct version, then attempt it again. Levo records the jump between your first attempt and your last, and brings each question back on the day you are due to forget it.

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