HC Deb 01 June 1998 vol 313 cc88-9W
Dr. Cable

To ask the Chancellor of the Exchequer what are the terms of reference of the Euro-X Committee; and what matters have been reserved to ECOFIN. [43142]

Mrs. Liddell

The terms of reference of the Euro-X committee are set out in the Luxembourg European Council conclusions. The Luxembourg European Council conclusions state that decisions will in all cases be taken by the ECOFIN Council in accordance with the procedures set out in the Treaty.

Dr. Cable

To ask the Chancellor of the Exchequer what will be the agenda for the June meeting of the Euro-X Committee. [43141]

Mrs. Liddell

As agreed by all member states, the agenda for the June meeting of Euro-X will include practical arrangements for future meetings of Euro-X and a preliminary assessment of the macroeconomic situation in the euro area with a view to the introduction of the single currency in those countries.

Dr. Cable

To ask the Chancellor of the Exchequer what mechanisms will be created to co-ordinate the work of the Euro-X Committee and ECOFIN. [43143]

Mrs. Liddell

Euro-X is an informal body to be established in line with the conclusions of the Luxembourg European Council. The ECOFIN Council is a formal body of the EU, established under the Treaty. The Luxembourg European Council conclusions state that the Ministers of member states participating in the euro area may meet informally among themselves to discuss issues connected with their shared specific responsibilities for the single currency. The Luxembourg conclusions also state that whenever matters of common interest are concerned they will be discussed by Ministers of all member states. Decisions will in all cases be taken by the ECOFIN Council in accordance with the procedures laid down in the Treaty.