§ Sir Teddy TaylorTo ask the Chancellor of the Exchequer if he will make a statement on the work being undertaken by the EMI; and what part the United Kingdom plays in determining its policy. [22549]
§ Mr. Nelson[holding answer 4 May 1995]: The objectives and the tasks of the European monetary institute are set out in articles 109f and 109j, paragraph 1, of the treaty establishing the European Community and the protocol on the statute of the European monetary institute annexed to the treaty. The EMI annual report 1994, published in April 1995, which reports on the activities of the EMI up to 31 December 1994, is available from the House of Commons Library.
The Governor of the Bank of England is a member of the EMI council. Like the central banks of all the other member states, the Bank of England is participating in the EMI's work.