asked the Minister for Finance if he will outline the progress, if any, that has been made towards the establishment of an economic and monetary union in Europe.
Ceisteanna—Questions. Oral Answers. - European Economic and Monetary Union.
119.
I would refer the Deputy to Chapter 14 of the Government's first report to the Oireachtas on Developments in the European Communities which was presented to the House last May and which outlines the developments up to the middle of that month. Subsequent developments will be covered in future reports to the Oireachtas under section 5 of the European Communities Act 1972.
I might add that to date there has been no significant change in the position regarding economic and monetary union as outlined in the May report.
Would the Minister indicate whether it appears likely now that the second stage of the Progress towards Economic and Monetary Union will be possible on the 1st January next?
It would be an unwise man who would make any prophesy about monetary matters at the present stage.