Tests For Euro Entry

EDM number 362 in 2001-02, proposed by Austin Mitchell on 06/11/2001.

That this House urges Her Majesty's Government to adopt and announce two further crucial and clear tests for British membership of the euro, namely, that the entry exchange rate of the ú against the euro should be competitive and sustainable and the present heavy over-valuation of sterling against the euro must be eliminated before entry and that neither preparations for entry, nor actual entry into the euro, should require any increase in taxation or reduction in current or planned public expenditure in the UK; and believes that these tests must be satisfied before it is possible to judge whether entry into the euro is in the interests of the United Kingdom.

This motion has been signed by a total of 17 MPs.