Problem
Several countries have opted to join currency unions. Examples include those in the Euro area, the CFA franc union in West Africa, and the Caribbean currency union. This involves sacrificing the domestic currency in favor of using a single currency unit in multiple countries. Assuming that once a country joins a currency union, it will not leave, do these countries face the policy trilemma discussed in the text? Explain.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.