§ Mr. MitchellTo ask the Chancellor of the Exchequer how the rate of entry for Sterling into the euro will be determined; what the scope is for negotiation of the rate; how long the exchange rate has to be maintained before entry; and if the relativity to be maintained to the euro allows for changes in the euro rate. [127557]
§ Miss Melanie JohnsonThe rate at which sterling would enter the single currency would need to be consistent with economic fundamentals in the UK and compatible with sustainable convergence between the UK and other euro area economies.