To ask the Chancellor of the Exchequer what expenditure has been incurred by the European Monetary Institute in respect of preparation for possible designs banknotes or coinage for a common currency; and on whose authority such expenditure was made. [37269]

The European Monetary Institute has the responsibility of supervising the technical preparation of single currency banknotes under the terms of article 109f(3) of the EC treaty, as amended at Maastricht, which has been ratified by all member states. The accounts published by the European Monetary Institute do not separately identify expenditure incurred in fulfilling this responsibility.