§ Lord Hyltonasked Her Majesty's Government:
Whether and to what extent the European Union has taken into account Turkey's 150 per cent. per annum inflation rate, high burden of debt and depreciating currency, in the current negotiations concerning a Customs Union.
§ The Minister of State, Foreign and Commonwealth Office (Baroness Chalker of Wallasey)The Foreign Affairs Council of the European Union agreed the terms of Customs Union with Turkey, which should assist Turkey to develop a stable modern economy, and provide a growing market for the EU. It will also strengthen our links with this important partner in a volatile region. The matter has yet to be discussed and agreed by the European Parliament.