§ Mr. SpearingTo ask the Chancellor of the Exchequer if he will list the title and authorship of the documents used by Governments of the member states by the European Union in concluding that the percentage of public sector borrowing and debt as a proportion of gross national product should be those specified in the treaty of union, Maastricht. [40363]
913W
§ Mr. WaldegraveThe Council, meeting in the form of Heads of State or Government, in accordance with article 109j of the EC treaty, will assess which countries fulfil the necessary conditions for the adoption of the single currency. In doing so, the Council will take account of reports prepared for this meeting by the Commission and the European Monetary Institute. Sound public finances, as detailed in article 104c of the treaty and in protocol No. 5 on the excessive deficit procedure, will form an important part of the assessment.