asked the Minister for Finance if he considers it appropriate that national Governments, in conjunction with the European Commission, should take effective action to expand the use of the ECU in Community trade; the policy measures he considers desirable to broaden the framework within which to put it to use; and if he will make a statement on the matter.
Written Answers. - Expansion of ECU Usage.
50.
As the Deputy will be aware, the Council of Economics and Finance Ministers, following the adoption earlier this year of a package of measures designed to increase the use of the official ECU, has turned its attention to the medium and long term prospects for the EMS and in particular for the ECU. The council has already held discussions of a preliminary nature and it has asked the two specialised committees, the Monetary Committee and the Committee of Governors, to pursue their work in this area. As yet it is too early to speculate on what action, if any, might eventually be taken on foot of these discussions. The use of the ECU in Community trade is part of this whole question, though one which is not readily amenable to official action, since traders are free to choose the currency in which they transact business.