House of Commons - Treasury - Sixth Report

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House of Commons

Session 2002-03
Publications on the internet
Treasury Committee Publications

Treasury - Sixth Report

Here you can browse the report together with the Proceedings of the Committee. The published report was ordered by the House of Commons to be printed 24 April 2003.

CONTENTS

Terms of Reference

REPORTS

SUMMARY

1.INTRODUCTION

The introduction of the Euro
UK Government policy since 1997
This inquiry
This Report

2.WORKINGS OF THE EURO

The changeover process
The European Central Bank
Strategy and objectives
Transparency, openness and accountability
Interest rate decision making body
Stability and Growth Pact
Implementation of the Pact
Reform of the Pact
Performance of the eurozone economy
Structural reform
Germany
Ireland
Experience of UK companies so far

3.THE FIVE ECONOMIC TESTS

The assessment process
The five tests and the supporting studies
The 'counterfactual' question - the consequences of remaining outside
Two routes to stability
Convergence test
The monetary transmission mechanism
The exchange rate
The housing market
The degree of convergence required for entry
Flexibility test
Investment test
Public Investment
City and financial services test
Growth, stability and jobs test
The experience of the US & Canada
The Stability and Growth Pact and the European Central Bank

4.TIMING AND NEGOTIATION OF ENTRY

Maastricht Criteria
Exchange rate
Influence of UK on reform
The present options

5.ENGAGING THE PUBLIC IN THE DEBATE

The challenge
Public interest and increasing public understanding
Issues of concern to the public

LIST OF RECOMMENDATIONS AND CONCLUSIONS
LIST OF ABBREVIATIONS
MINUTES OF PROCEEDINGS OF THE COMMITTEE RELATING TO THE REPORT
LIST OF WITNESSES
LIST OF MEMORANDA INCLUDED IN THE MINUTES OF EVIDENCE
LIST OF APPENDICES TO THE MINUTES OF EVIDENCE
LIST OF MEMORANDA REPORTED TO THE HOUSE BUT NOT PRINTED
RECENT REPORTS PUBLISHED BY THE TREASURY COMMITTEE

MINUTES OF EVIDENCE - VOLUME II (HC 187-II)

Thursday 12 December 2002
Tuesday 14 January 2003
Thursday 16 January 2003
Thursday 23 January 2003
Tuesday 28 January 2003
Thursday 30 January 2003
Tuesday 4 February 2003
Thursday 6 February 2003
Monday 10 February 2003 [Morning Sitting]
Monday 10 February 2003 [Afternoon Sitting]
Tuesday 11 February 2003
Thursday 27 February 2003
Tuesday 4 March 2003
Tuesday 11 March 2003
Thursday 18 March 2003

APPENDICES TO THE MINUTES OF EVIDENCE - VOLUME II (HC 187-II)

© Parliamentary copyright 2003
Prepared 28 April 2003