Written question asked by Tony Marlow (Conservative), in the House of Commons. It was due for an answer on Monday, 13 January 1997. It was answered by Lord Clarke of Nottingham (Conservative) on Monday, 13 January 1997 on behalf of the Treasury.

Treasury

Question: Pursuant to his oral statement of 3rd December, Official Report, column 797, if Article 3 of the convergence criteria of the IEU is operating. - (Holding answer 9 December 1996).

Answer: Mr. Marlow: To ask the Chancellor of the Exchequer, pursuant to his oral statement of 3 December, Official Report, column 797, if article 3 of the convergence criteria of the treaty of European union is operating. [8119] Mr. Kenneth Clarke: [holding answer 9 December 1996]: Article 3 of protocol (No. 6) on the convergence criteria still forms part of the EC treaty, though its interpretation is uncertain because the operation of the exchange rate mechanism has changed considerably since Maastricht. The interpretation of the criterion will be considered by Heads of Government when they meet to decide which member states satisfy the necessary conditions for the adoption of a single currency. These decisions will be taken in early 1998 at the earliest.

Secondary information

Type: Written question
Reference: 8119; 288 c23W
Session: 1996-97
Subjects: Economic and monetary union Treaty on European Union Exchange rate mechanism