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6. Eurozone monetary policy True or False: All countries that are part of the eurozone are subject to the monetary policy imposed by the European Central Bank (ECB), and so each participating country has little control over the monetary policy implemented within its borders at any given time. Thus, any participating country must solve local economic problems with its own fiscal policies if an imposed monetary policy is ineffective. True O False Consider the countries of Cyprus and Lithuania, both of which are part of the European Union and use the euro as their domestic currency. In 2017, Cyprus had an inflation rate of 0.689%, and Lithuania had an inflation rate of 3.72%. Suppose at the end of 2017, the European Central Bank (ECB) implements a monetary policy designed to stimulate economic growth and reduce unemployment across the Eurozone. Given the inflation rates of Cyprus and Lithuania in 2017, Cyprus would benefit less . from this monetary policy than Lithuania. As a result, should consider using fiscal policy to solve its local economic problems