Léim ar aghaidh chuig an bpríomhábhar
Gnáthamharc

Dáil Éireann díospóireacht -
Tuesday, 7 Apr 1992

Vol. 418 No. 4

Written Answers. - European Monetary Union.

Bernard Allen

Ceist:

77 Mr. Allen asked the Minister for Finance when he estimates that European Monetary Union will be achieved; and if he considers that Ireland is ready for such unity.

Article 109j (3) of the new Treaty on European Union provides that the Council, meeting in the composition of Heads of State or of Government, shall, not later than 31 December 1996, set the date for the beginning of the third stage of Economic and Monetary Union if it decides that a majority of member states fulfil the necessary conditions for the adoption of a single currency and if it is appropriate for the Community to enter the third stage.

Article 109j (4) provides that, if by the end of 1997 the date for the beginning of the third stage has not been set, that stage shall start on 1 January 1999.

Ireland is ready for Economic and Monetary Union. Indeed, at a meeting on 10 February last which considered Ireland's economic convergence programme, the ECOFIN Council "welcomed the fact that Ireland at present complies with the objective criteria for the move to the third stage of European Monetary Union".

Barr
Roinn