Our next report is the Report on the European Monetary Co-operation Fund.
The main thrust of what we say is to be found at paragraph 5 on page 3, where we indicate:
. . . The co-ordination of the monetary policies of the Member States is, however, not regarded as satisfactory but it has been strongly contended that this is attributable to political causes and not primarily to institutional deficiencies . . .
That is very much the view of the committee.