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Euro

Volume 405: debated on Tuesday 20 May 2003

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8.

To ask the Secretary of State for Scotland if she will make a statement on the implications of membership of the euro for the Scottish economy. [113332]

The determining factor underpinning any Government decision on membership of the single currency is the national economic interest. Any Government decision on the euro will be based on a thorough and rigorous assessment of the five economic tests and the implications of membership for the entire UK economy. The economic case must be clear and unambiguous before the Government will recommend membership.