§ Mr. HowardTo ask the Chancellor of the Exchequer if he will estimate how much the United Kingdom would have lost through the decline in the value of the euro if it had joined economic and monetary union on 1 January, taking into account the obligation of member states to contribute(a) to the establishment of the initial share capital of the European Central Bank and (b) to the exchange reserves of the ECB; and if he will set out the assumptions made in calculating the answer. [102603]
§ Miss Melanie JohnsonThe United Kingdom did not join the single currency on 1 January 1999 so therefore the circumstances did not arise.