§ Mr. Grimondasked the Chancellor of the Exchequer if he has considered the proposals, regarding assistance to sterling, made by M. Monnet's action committee, details of which have been sent to him by the hon. Member for Orkney and Shetland; and if he will propose to the Governments concerned the establishment of a European Reserve Fund for this purpose.
§ Mr. Selwyn LloydI have seen the proposals referred to by the hon. Member. They relate to action by the Members of the European Economic Community, and it would clearly not be appropriate at this time for me to take any initiative in the matter.