HC Deb 04 July 1995 vol 263 c97W
Mr. Austin Mitchell

To ask the Prime Minister what is his policy towards the adoption of a single currency outside the rules of the European Union by countries wishing to do so. [32369]

The Prime Minister

The EC treaty now provides the institutional framework for the adoption of a single currency. It would not be legally permissible for any member states to adopt a single currency otherwise than in accordance with this framework if that prevented or fettered the discharge by the Community institutions of their functions in accordance with the treaty.

The United Kingdom's protocol, annexed to the EC treaty, means that the United Kingdom shall not be committed to move to the third stage of economic and monetary union without a separate decision to do so by its Government and Parliament.