§ 14. Mrs. Bridget PrenticeTo ask the Chancellor of the Exchequer what representations have been made to him on the criteria for joining the European single currency. [327]
Mr. ClarkeThe Government's economic policy objectives of permanently low inflation and sound public finances are fully consistent with the Maastricht convergence criteria. These criteria make economic sense in their own right, and are essential for economic success with or without EMU.
The precise interpretation of the criteria will be for the Council of Ministers to decide in early 1998, when the decision is taken on which countries have qualified to join the single currency.