§ Mr. DykesTo ask the Prime Minister if she will give the list of conditions she has established for United Kingdom adherence to the European monetary system exchange rate mechanism of the European Community, in accordance with her reference to such conditions in theOfficial Report, 29 June, column 1109.
§ The Prime Minister[holding reply 11 July 1989]: The decision when to join the exchange rate mechanism will have to be judged against progress in a number of areas. In particular, when the level of United Kingdom inflation is significantly lower, there is capital liberalisation in the 521W Community and real progress has been made towards the completion of the single market, freedom of financial services and strengthened competition policy.