§ Lord Tebbitasked Her Majesty's Government:
Whether it is their policy that ecu notes of the European single currency shall be legal tender in the United Kingdom.
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The Earl of CaithnessIf the United Kingdom were to participate in Stage 3 of the economic and monetary union, involving a single European currency, ecu notes would be legal tender in the United Kingdom. If the United Kingdom decided not to participate in Stage 3, ecu notes would not be legal tender.
§ Lord Tebbitasked Her Majesty's Government:
Whether it is their policy that ecu notes to be issued in Stage 3 of currency union should be of a common design in all member states of the union or that each state should design and issue its own ecu notes.
The Earl of CaithnessNo decisions have been taken on the design of banknotes under Stage 3 of economic and monetary union. Article 16 of the Protocol on the Statute of the European System of Central Banks and of the European Central Bank requires the European Central Bank to respect as far as possible existing practices regarding the issue and design of notes.
§ Lord Tebbitasked Her Majesty's Government:
What is their policy concerning the denominations of ecu notes to be issued in Stage 3 of currency union as set out in the treaty of union.
The Earl of CaithnessNo decisions have been taken on the denominations of ecu notes to be issued in Stage 3 of economic and monetary union.