§ Mr. Philip Oppenheim
asked the Chancellor of the Exchequer if he will make a statement on the European Commission President's call for a strengthening of the role of the European unit of account.
§ Mr. Ian Stewart
The Commission President's statement to the European Parliament on 14 January 1985 covered among other subjects, the European currency unit, which has since 1979 taken the place of the European unit of account. We support the principle of further development of the ECU. Specific proposals were discussed at the Finance Council meeting on 10 December 1984 and it was agreed by all Members that these required further careful study to ensure that the best possible options were adopted.