HL Deb 23 March 1993 vol 544 c10WA
Lord Tebbit

asked Her Majesty's Government:

What steps have been taken by them or by the Bank of England towards the design and production of ECU notes or coin for circulation in the United Kingdom.

The Earl of Caithness

Under the terms of the Maastricht Treaty the United Kingdom is not obliged to participate in a single European currency without a separate decision at the appropriate time by the United Kingdom Government and Parliament. Consequently, there are no plans to introduce ECU notes or coins for circulation in the United Kingdom. It is clear, however, that the introduction of the ECU in any country will require a very long period of preparation. The EC Committee of Central Bank Governors has therefore set up a working group to look at the technical issues and options regarding banknotes, and an informal working group of Mint directors is looking at similar questions regarding coins.