Electromagnetic Waves

Given below are two statements : Statement I : A time varying electric field is a source of changing magnetic field and vice-versa. Thus a disturbance in electric or magnetic field creates EM waves. Statement II : In a material medium, the EM wave travels with speed $v = {1 \over {\sqrt {{\mu _0}{ \in _0}} }}$. In the light of the above statements, choose the correct answer from the options given below.