HC Deb 09 June 1998 vol 313 c496W
Mr. Mitchell

To 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. Liddell

The 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. Mitchell

To 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. Liddell

The 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.