§ Mr. Teddy Taylorasked the Prime Minister whether there was any agreement at the summit meeting in 420W Luxembourg on economic and monetary union; and if the agreed text of the outcome contains a reference to economic and monetary union.
§ The Prime MinisterThe European Council agreed that the preamble to the text amending the Treaty of Rome should refer to the decision of the Heads of State or Government, at their conference in Paris in October 1972, to approve the objective of the progressive achievement of economic and monetary union. The Council also agreed that the Treaty of Rome should be amended to provide that any developments in the field of economic or monetary policy which necessitate institutional changes must be subject to the procedures of article 236 of the treaty, ie further amendment of the treaty and ratification according to national procedures. Like the Council's other decisions, these agreements are subject to reserves on the part of Denmark and Italy.