§ Lord Tebbit
asked Her Majesty's Government:
Further to the Written Answer by Lord McIntosh of Haringey on 27th July (WA173), whether it is their view that the sole constitutional issue involved in entry into European Monetary Union is that "to share a common monetary policy with other states does represent a major pooling of economic sovereignty". [HL4139]
§ Lord McIntosh of Haringey
As the Chancellor of the Exchequer said in his October 1997 statement, the determining factor underpinning any government decision on membership of the single currency is whether the economic benefits of joining are clear and unambiguous. If they are, there is no constitutional bar to British membership of EMU.