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Delors Plan

Volume 171: debated on Wednesday 25 April 1990

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To ask the Chancellor of the Exchequer what are the latest proposals of the European Community Commission on the Delors plan and the financing by member states of budget deficits by monetary means.

The European Commission's latest report, entitled "Economic and Monetary Union: The Economic Rationale and Design of the System", was deposited in the Vote Office with an explanatory memorandum on Tuesday 24 April. This report notes that there is a "virtual consensus" in the Community in favour of a rule proposing no monetary financing of public deficits.