HC Deb 21 May 1998 vol 312 c492W
19. Mr. David Heath

To ask the Chancellor of the Exchequer what will be the administrative currency for the purposes of the common agricultural policy and other European Union programmes following the introduction of the euro. [41693]

Mrs. Liddell

From 1 January 1999, the euro will replace the ecu as the currency of denomination of the EC budget. The Commission has not yet put forward proposals for how currency transactions with the Member States not participating in the single currency should be handled following the introduction of the euro. The Government understand the Commission still has the matter under consideration but that it proposes to set out its views in the Summer.