In terms of which of the following criteria does EU fall short of US as a successful currency union?

		Fiscal transfers are negligible.
		Labor market mobility is relatively lower.
		The "lender-of-last-resort" mechanism is not sufficiently well defined.
		All

Which of the following is correct for European Central Bank (ECB)?

		ECB can not directly finance member states' fiscal deficits.
		ECB can not provide bailouts to member governments or national public bodies.
		ECB can not act as a lender of last resort by extending credit to financial institutions in the Eurozone in an event of a banking crisis.
		All