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Economic and Monetary Union

Volume 493: debated on Tuesday 2 June 2009

To ask the Chancellor of the Exchequer on how many occasions to date the ERM II provisions have been triggered on the approach of a currency to the limits permitted; and what the cost of this intervention was in each case. (277127)

The Government do not hold this information. The relevant data are owned by the national central banks of the EU member states participating in ERM II. The UK does not participate in ERM II.

To ask the Chancellor of the Exchequer what estimate has been made of the cost to the UK of participating in the ERM II mechanism in the latest period for which figures are available; and what the reasons are for UK participation in the mechanism. (277182)