HC Deb 02 December 1991 vol 200 c38W
Mr. Marlow

To ask the Chancellor of the Exchequer what commitment is made for the provision of convergence funds by those who sign the present draft of the EMU treaty; and how this provision applies to those countries who at any stage have not yet opted to be covered by the single currency.

Mr. Maude

There is no provision in the draft treaty articles on EMU prepared by the Dutch presidency for a convergence fund to be established. The question of the role of non-participants in stage 3 of EMU in such a fund does not therefore arise. The Government believe that convergence is best promoted by the adoption of sound economic policies.