Which treaty led to creation of the single European Currency “Euro”? ?->(Show Answer!)

1. Which treaty led to creation of the single European Currency “Euro”?

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By: anil on 05 May 2019 02.39 am

The Maastricht Treaty, officially known as the Treaty on European Union, marked the beginning of “a new stage in the process of creating an ever closer union among the peoples of Europe”. It laid the foundations for a single currency, the euro, and significantly expanded cooperation between European countries in a number of new areas. Hence, option A is the correct answer.

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Finally, and perhaps most important, many countries at the Uruguay Round came to put a higher priority on the export gains than on the import losses that the negotiation would produce, and they came to associate the WTO and a rules-based system with those gains. This reasoning - replicated in many countries - was contained in U.S. Ambassador Kantor's defence of the WTO, and it amounted to a recognition that international trade and its benefits cannot be enjoyed unless trading nations accept the discipline of a negotiated rules-based environment.A second factor in the creation of the WTO was pressure from lawyers and the legal process. The dispute settlement system of the WTO was seen as a victory of legalists over pragmatists but the matter went deeper than that. The GATT, and the WTO, are contract organisations based on rules, and it is inevitable that an Organisation created to further rules will in turn be influenced by the legal process. 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