House of Commons portcullis
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)




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




 
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