§ Mr. AllenTo ask the Chancellor of the Exchequer what mechanisms exist for revaluing or devaluing currencies in the ERM; and when such a mechanism was last used.
§ Mr. MaudeThe central exchange rates of currencies in the exchange rate mechanism of the European monetary system may be changed by agreement of the members. The last realignment of central rates took place on 8 January this year when the lira moved from wide to narrow bands in the system.
§ Mr. AllenTo ask the Chancellor of the Exchequer what estimate he has made of when the Madrid conditions originally laid down for entry into the ERM will be met.
§ Mr. AllenTo ask the Chancellor of the Exchequer if he will make a statement on the reasons it was decided to modify the Madrid conditions for entry into the exchange rate mechanism.