a. Describe the criteria for membership in the European Union. Given the criteria, what are some of the major challenges with expanding the EU eastward? What are the potential problems of Turkey joining the EU? ( 7.5 marks)

b. The European Exchange Rate Mechanism (ERM) was a financial system originally introduced by the European Economic Community (EEC) in March 1979. An integral part of the European Monetary System (EMS) founded around the same time, the mechanism's primary mission was to promote financial stability across Europe, as well as align the currencies of the participating countries in preparation for the introduction of a single European currency further down the line. Explain how and why the European exchange rate mechanism (ERM) ran into problems in the 1990s ? (7.5 marks)