§ Mr. Severasked the Chancellor of the Exchequer if he will make a statement on 524W his policy towards monetary union within the EEC following the statement made to the European Assembly in Luxembourg on Tuesday, 17th January 1978 by Mr. Roy Jenkins calling for the establishment of the framework of monetary union.
§ Mr. Denzil Davies,pursuant to his reply [Official Report, 23rd Jan. 1978; Vol. 942, c. 423], gave the following answer:
Mr. Roy Jenkins' statement to the European Parliament followed the Commission communication on the prospect for economic and monetary union (COM (77)620 Final) which is currently being studied by the specialist economic and financial committees of the Community. As my right hon. Friend the Prime Minister told the House, we shall wish to see how this new system can be of benefit to the United Kingdom in its recession as well as to Europe.