Britain decided not to join other European Union countries in using the euro as its currency. One British opponent of adopting the euro argued, "It comes down to economics. We just don't believe that it's possible to manage the entire economy of Europe with just one interest rate policy. How do you alleviate recession in Germany and curb inflation in Ireland?"
a. What interest rate policy would be used to alleviate recession in Germany?
b. What interest rate policy would be used to curb inflation in Ireland?
c. What does adopting the euro have to do with interest rate policy?