Vol. 421 No. 4
90 Mr. Allen asked the Minister for Finance if he will make a statement regarding the recent agreement between Germany and Italy, arising from last week's European Community Finance Ministers' Meeting on complete convergence programmes of Germany and Italy; and if he will outline the implications for Ireland of this convergence agreement.
I presume that the Deputy is referring to the discussion at recent meetings of the Council of Economic and Finance Ministers of convergence programmes submitted by Germany and Italy.
These discussions were part of a series of discussions on convergence programmes submitted by member states. Ireland's convergence programme was discussed at a meeting on 10 February, 1992.
The convergence programmes are designed to set out the planned evolution of the economy, particularly in terms of budgetary positions and inflation, over the coming years in the context of progress towards economic and monetary union. The programmes are the responsibility of the member states and are not approved or adopted by the Council.
There are no particular implications arising for Ireland from the German and Italian convergence programmes.
