European Union (Convergence Criteria)

HC Deb 16 October 1995 vol 264 c10W

Mr. John Marshall

To ask the Chancellor of the Exchequer which EU countries are currently achieving the convergence criteria of the Maastricht treaty. [37210]

Mrs. Angela Knight

The question of which countries meet the Maastricht criteria will be decided by the European Council on recommendations from the Commission. On the basis of the latest Commission forecast, Luxembourg, Germany and the UK are likely to have budget deficits below 3 per cent. of GDP and debt ratios below 60 per cent. of GDP by 1996.