European Monetary Union

HC Deb 20 May 1991 vol 191 cc332-3W

Mr. Flynn

To ask the Prime Minister what is Her Majesty's Government's policy towards the recent proposals by the President of the European Comission for a delayed consideration of entry into European monetary union.

The Prime Minister

As my right hon. Friend the Chancellor told the House on 24 January, we cannot accept any changes to the treaty of Rome that would bind us to move to a single currency or a single monetary policy without a separate decision by the United Kingdom Government and Parliament. The suggestion made at the informal ECOFIN on 12 May is a step in the right direction. But there remain many issues to be discussed in the economic and monetary union intergovernmental conference before a final agreement can be reached.