§ Lord Lucas of Chilworth
asked Her Majesty's Government:
What progress has been made in consideration of the Delors Report on Economic and Monetary Union in the European Community.
The Paymaster General (The Earl of Caithness)
The Delors report suggests a three-stage process leading to economic and monetary union. The Government's acceptance of Stage I, which will start on 1st July 1990, was reported by the Prime Minister in her statement on 29th June. A paper entitledAn Evolutionary Approach to Economic and Monetary Union has today been laid before Parliament and copies placed in the Library of the House. This paper sets out the Government's views on an alternative approach to Stages II and III as described in the report by the Delors Committee, and will be a contribution to discussion at ECOFIN on 13th November.