EUROPEAN ECONOMIC AND MONETARY UNION

HL Deb 21 June 1990 vol 520 cc1165-6WA

Lord Swinfen

asked Her Majesty's Government:

Whether they will be putting forward further ideas on ways of moving towards economic and monetary union in the European Community.

The Earl of Caithness

Copies of a speech the Chancellor of the Exchequer made yesterday to the German Industry Forum in the UK, in which he suggessted further practical steps beyond Stage 1, have been deposited in the Library of the House. These would promote convergence, low inflation and stable exchange rates by building up the Community's existing common currency, the ecu. He will be discussing these ideas further with his colleagues in the European Community in the coming weeks.