§ Mr. Beaumont-Darkasked the Chancellor of the Exchequer if he will make a statement of the Government's intention in regard to the likelihood of Great Britain joining the European monetary system, and any consequent diminution of national sovereignty.
§ Sir Geoffrey Howe[pursuant to his reply, 6 December 1979]: We wish to see the European monetary system succeed and are already participating in certain aspects of it. I cannot say when conditions will permit us to take a decision on joining the exchange rate mechanism. On that, we have to take account 403W of all the conditions affecting the position of sterling.