§ Mr. RedwoodTo ask the Chancellor of the Exchequer if he intends to become a signatory to the stability pact as part of the preparation for a single currency. [300]
§ Mr. Gordon BrownThe principles and main elements of the stability and growth pact were agreed by Heads of State and Government at the European Council in Dublin last year. The informal Council of Finance Ministers at Noordjwijk in April gave political agreement to the texts, which have been sent to the European Parliament. The UK has maintained a Parliamentary scrutiny reserve on the stability pact proposals. The intention is that the European Council will endorse the stability pact texts at its meeting in Amsterdam on 16 June, including any amendments since the Noordjwijk ECOFIN, and taking account of the European Parliament's views.