Bernard J. Durkan
Ceist:16 Mr. Durkan asked the Minister for Finance the measures, if any, he proposes to take at Council of Ministers level to advance moves towards a single European currency; and if he will make a statement on the matter.
Written Answers. - Single European Currency.
Ireland has supported the move to a single European currency. The Maastricht Treaty sets out the steps to be taken to achieve this. We take every opportunity at EC level to press for the realisation of this goal within the terms of the Treaty.
There are a number of issues to be considered before a single currency can become operational. For example, the institution to issue and control the currency must be established. Also the necessary degree of convergence between the economies of the countries involved must be achieved.
We take an active role at all levels where these issues are discussed. I have no plans to submit formal proposals at this time but urge that the technical and other work be completed with all speed.