Below is the text of Mr Major’s written Parliamentary Answer on Economic and Monetary Union on 21st June 1990.
Mr. Hanley To ask the Chancellor of the Exchequer if he will be putting forward further ideas on ways of moving towards economic and monetary union to his counterparts in the European Community.
Mr. Major I have deposited in the Library of the House copies of a speech I made yesterday to the German Industry Forum in the United Kingdom, in which I suggested further practical steps beyond stage 1. These would promote convergence, low inflation and stable exchange rates by building up the Community’s existing common currency, the ecu. I will be discussing these ideas further with my colleagues in the European Community in the coming weeks.