asked the Minister for Finance the Government's official position on the Delors Committee report on EC economic and monetary union and related matters.
47.
Written Answers. - EC Economic and Monetary Union.
25.
asked the Minister for Finance if it is proposed to issue a discussion paper as to the implications of EC monetary union for the Irish economy; whether any research has been undertaken or commissioned on this subject; and if he will make a statement on the matter.
61.
asked the Minister for Finance the present position regarding negotiations among the member states of the EC in relation to monetary union; and if he will make a statement on Ireland's position in these negotiations.
I propose to take Questions Nos. 25, 47 and 61 together.
The Delors Committee were entrusted by the European Council with the task of studying proposed concrete stages leading towards economic and monetary union in the European Community. In their report, they have set out a programme of such stages. While they do not put forward a timetable, they recommend that the process should begin not later than mid-1990.
The report provides a basis for further discussion on greater economic and monetary integration within the Community. The Government will participate in this discussion in a constructive manner because we believe that greater integration, accompanied by effective measures to minimise existing imbalances, will lead to greater stability to the benefit of the Community. The report underlines the importance of regional policies in order to promote an optimum allocation of resources and to spread welfare gains throughout the Community. This emphasis is to be welcomed as Government support for greater economic and monetary integration must be conditional on appropriate support for the development of the peripheral and poorer areas of the Community.
The report contains a number of proposals for institutional changes to assist the progress towards economic and monetary union. It is too early to give an informed opinion on these and other proposals in the report, pending further discussion at Community level, and detailed analysis at departmental level.
There are no plans to publish a discussion paper on these matters.