§ Mr. RedwoodTo ask the Chancellor of the Exchequer what estimate he has made of the number of countries which will meet the Maastricht requirements to enter a single currency in the first wave. [28583]
§ Mr. Gordon Brown[holding answer 9 February 1998]: The decision on which Member States satisfy the Maastricht requirements for participation in Stage Three of EMU will be taken by Heads of State or Government in May.
§ Mr. RedwoodTo ask the Chancellor of the Exchequer if the United Kingdom has to spend a period of time in the ERM before qualifying for possible entry into the single currency. [28581]
§ Mr. Gordon Brown[holding answer 9 February 1998]: The interpretation of the criteria set out in Article 109j of the Maastricht Treaty is a matter for collective discussion between EU Heads of State and Government when they meet in May to decide which Member States meet the conditions for Stage Three of EMU.