§ Lord Stoddart of Swindonasked Her Majesty's Government:
- (a) whether they will provide details of each section of each Act of Parliament in force relating to any duties and powers of (1) the Bank of England or (2) any Minister of the Crown, which would be transferred to the European Central Bank or other institution of the European Community in the event
WA 7 of full accession of the United Kingdom to the euro monetary system; and - (b) whether they will place details in the Libraries of both Houses of Parliament. [HL4759]
§ Lord McIntosh of HaringeyIf government, Parliament and the people—in a referendum—decide to join a successful single currency, the transfer of legal responsibility for monetary policy to the European Central Bank would entail changes to the domestic legislation of the United Kingdom governing the formulation and conduct of monetary policy, at least to the extent necessary to ensure compatibility with the EC Treaty and the statute of the ESCB.
§ Lord Stoddart of Swindonasked Her Majesty's Government:
Whether any decision to abolish the pound and adopt the euro would be irrevocable; and, if so, how the constitutional principle that one Parliament cannot bind its successor would be maintained. [HL4891]
§ Lord McIntosh of HaringeyI refer the noble Lord to the comments I made during the debate on 24 June 1999 (Official Report, col. 1063).