HC Deb 13 February 1997 vol 290 c312W
22. Mr. Gordon Prentice

To ask the Chancellor of the Exchequer what assessment he has made of the economic consequences to the United Kingdom of entering a single currency in circumstances when the convergence criteria have not been fully met by each of the participating countries. [14194]

Mr. Kenneth Clarke

For the single currency area to be successful, there must be a high degree of sustainable economic convergence among the countries participating. If the single currency were to proceed without reliable convergence, we would not be part of it.