Q5. Greece was particularly hard hit by the COVID pandemic due to its high dependence on international tourism. Tourism revenue declined by 78% during the first 9 months of 2020.

In this context, critically evaluate the following statement: 'Greece's membership of the Eurozone constrains its ability to adjust to such a large

external shock'.

Q6. Further to the theme in Question 5 above, does Australia, consisting of the States of Australia which all adopt the Australian dollar as their common currency, meet the conditions for an optimal currency area?