§ Mr. SillarsTo ask the Chancellor of the Exchequer what reasons a majority of member states in the intergovernmental conference has given for preferring a consultative and not a legislative role for the European Parliament, as set out in the letter to him of 25 October from the Dutch Minister of Finance.
§ Mr. MaudeThe views of the member states expressed in the Inter-Governmental Conference on Economic and Monetary Union are a matter for their respective Governments. The Treaty provisions on EMU as presently under discussion in the IGC will encompass relatively little legislation. Instead, they will develop the coordination of national economic policies between the member states, and will establish a European central bank to be responsible for monetary policy.