Euro (Pension Liabilities)

HC Deb 19 July 2004 vol 424 c39W

Mr. Webb

To ask the Chancellor of the Exchequer what assessment he has made of the implications of British membership of the Euro for the UK's liability to share in the unfunded pension liabilities of other Eurozone countries; and if he will make a statement. [185068]

Ruth Kelly

Article 103 of the EC Treaty explicitly rules out adoption of liabilities of one member state by others or by the EU as a whole. EMU membership would not change this.