HL Deb 22 March 1993 vol 544 c2WA
Lord Tebbit

asked Her Majesty's Government:

Whether they have any reason to doubt the schedule of dates set out in Article 109J 4 of the Treaty of Union.

The Minister of State, Department of Transport (The Earl of Caithness)

Article 109J 4 sets out the timetable and procedure for the start of the third stage of economic and monetary union if no date for its start has been set by the end of 1997. Only those member states which meet the necessary conditions will be able to move to Stage Three. It is not possible to say, at present, whether these provisions will result in a successful and sustainable move to Stage Three. This shows the benefit of the UK Protocol, which allows the United Kingdom, in the light of prevailing circumstances, to decide whether to move to Stage Three.