HL Deb 11 October 1999 vol 605 c63WA
Lord Sudeley

asked Her Majesty's Government:

Whether, and, if so, how, they and the Bank of England have considered the use of sterling to provide economic sustainability for the Commonwealth of Nations. [HL 3944]

Lord McIntosh of Haringey

The Government are committed to promoting international financial stability through international cooperation as a way of increasing global prosperity including seeking to protect the most vulnerable groups.

Lord Sudeley

asked Her Majesty's Government:

Whether they and the Bank of England have considered the monetary mechanisms necessary for building sterling as a global stabiliser and as a viable alternative to the dollar, the yen and the euro. [HL 3943]

Lord McIntosh of Haringey

The Chancellor and the Governor of the Bank of England meet regularly with their G7 colleagues to discuss matters relating to the international monetary and financial system. The Government are committed to strong cooperation with G7 partners to promote international monetary and financial stability.