Eurozone Members - Diplomacy and International relations
Q. Consider the following statements
1. Iceland has left eurozone in 2010.
2. Some countries in Europe have formal agreements with the EU to use the euro as their official currency and issue their own coins.
Which of the above statements is / are incorrect? - Published on 07 Jul 15a. Only 1
b. Only 2
c. Both
d. None
ANSWER: Only 1
Iceland applied to join the European Union on 16 July 2009 and formal negotiations began on 27 July 2010.However, on 13 September 2013 the Government of Iceland dissolved its accession team and suspended its application to join the EU. No state has left, and there are no provisions to do so or to be expelled. Andorra, Monaco, San Marino, and Vatican City have formal agreements with the EU to use the euro as their official currency and issue their own coins.
