asked the Minister for Finance if he is now in a position to state the Government's attitude to the stated policy of economic and monetary union in the European Community by 1980.
Ceisteanna—Questions. Oral Answers. - EEC Economic and Monetary Union.
8.
The resolution of the Council of 22nd March, 1971, relating to the phased achievement of economic and monetary union embodied a commitment to achieve such a union in the Community by 1980. This commitment was reaffirmed by the Conference of Heads of State or Government in Paris in October, 1972. The Conference of Heads of Government held in Paris on 9-10 December of last year, while noting that internal and international difficulties did not permit as much progress towards economic and monetary union as had been expected, reaffirmed that their objective remains that which they set themselves on the occasion of the Paris Conference of October, 1972.
Ireland subscribed fully to these reaffirmations on the basis that a more closely knit Community, of which economic and monetary union is a concrete expression and in which there is a concerted approach to the solution of Community problems, is in the interest of all the member states but particularly the smaller ones.
Of course a necessary condition of progress towards EMU is parallel progress in the elimination of structural and regional imbalances occurring in the Community, entailing increased emphasis on regional, social and other policies which actively promote economic convergence.