§ Mr. MitchellTo ask the Chancellor of the Exchequer if Her Majesty's Government will treat the euro as a medium of exchange having value or as a unit of account. [44505]
§ Mrs. LiddellThe euro will be the currency of participating Member States and will be treated as such in the United Kingdom, in the same way as any other foreign currency.
§ Mr. MitchellTo ask the Chancellor of the Exchequer how lender of last resort operations will be co-ordinated during Stage Three of Economic and Monetary Union; and which individuals or bodies will be responsible for this. [44454]
§ Mrs. LiddellThe Treaty of Maastricht does not cover lender of last resort responsibilities. Under the Treaty, Member States and their national authorities therefore remain solely responsible for such matters.