Question: a.What is a Currency Board, and why is it often recommended for small countries? b. What are the conditions for an Optimal Currency Area? Does

a.What is a Currency Board, and why is it often recommended for small countries?

b. What are the conditions for an Optimal Currency Area? Does Europe meet these conditions? Why must monetary policy for the Euro area be conducted by a single European Central Bank, rather than allowing the individual central banks in each member country the right to issue Euros in place of their own currency?

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