Written question asked by Denzil Davies (Labour), in the House of Commons. It was due for an answer on Wednesday, 20 November 1996. It was answered by Lord Clarke of Nottingham (Conservative) on Wednesday, 20 November 1996 on behalf of the Treasury.

Treasury

Question: If the implementation of the stability pact which is proposed for Stage III of EMU will require an amendment to the Treaty of European Union.

Answer: Mr. Denzil Davies: To ask the Chancellor of the Exchequer if the implementation of the stability pact which is proposed for stage III of EMU will require an amendment to the treaty of European union. [4394] Mr. Kenneth Clarke: The proposed stability pact aims to spell out practical procedures for implementation of the excessive deficits procedure in article 104c of the Maastricht treaty. One element of the pact is a draft regulation based on article 104c(14) second subparagraph. Otherwise, no amendment or change to the provisions of the treaty is envisaged or required for the implementation of the pact.

Secondary information