HL Deb 17 February 1997 vol 578 cc35-6WA
Lord Jenkins of Putney

asked Her Majesty's Government:

Whether non-EU countries would be affected by a decision by the United Kingdom to abandon sterling in favour of the ECU, and whether they have been in communication with the governments of any such countries.

The Minister of State, Department of Social Security (Lord Mackay of Ardbrecknish)

Countries which use sterling or a currency linked to sterling would be affected if the United Kingdom were to adopt the single currency. Business and individuals from outside the European Union which use sterling would also be affected in such circumstances. The Government are in regular contact with the governments and administrations of many countries on a range of economic and financial issues, including economic and monetary union.