Part of the Reason That Triggered the 1992 EMS Crisis

Multiple Choice

Part of the reason that triggered the 1992 EMS Crisis was that:

A) France allowed the franc to depreciate too rapidly.
B) member states built up too large a budget deficit.
C) member states had to raise their interest rates to maintain their EMS parities.
D) member states had to lower their interest rates to maintain their EMS parities.
E) Italy allowed the lira to appreciate too rapidly.