Downing Street Says

Asked about President Barroso’s comments on the Euro, the PMS replied that our position on this had not changed. We had no plans to join the Euro.

Asked if the Prime Minister discussed the issue of the Euro during President Barroso’s recent visit, the PMS replied that the Prime Minister discussed a range of issues with President Barroso, but everyone should be very clear that we had no plans to change our position on the Euro.

Asked if there had been discussion at cabinet level on this, the PMS replied that he had not been present for any discussion at Cabinet of membership of the Euro.

Asked if it was accurate to say that the Government’s goal, or aim, was to join the Euro, the PMS replied that our position on the Euro had been set out many times before, and that was the position.

Asked what that position was, the PMS replied that it had been set out most recently in the Budget document.

Asked for the simple version, the PMS replied that our longstanding position was that in principle we saw benefits in Euro membership, but the five economic tests had to be met.

Asked how many had been met so far, the PMS replied that the position was that we reviewed on an annual basis whether sufficient progress had been made on meeting the five economic tests in order to decide whether or not a new assessment of the five economic tests had been triggered.

Asked when the last assessment was, the PMS replied that the last one was in the Budget.

Asked again how many of the tests had been met, the PMS replied that we did not give an updated assessment, we assessed whether sufficient progress had been made to decide whether or not to trigger an assessment.

Put that there had been one major change since then in the appointment of an avowed supporter of the Euro, and asked if this was part of the discussion when the Prime Minister asked Peter Mandelson to rejoin the Government, the PMS replied that the reason that the Prime Minister asked Lord Mandelson to rejoin the Cabinet was because Lord Mandelson was a figure who brought huge experience of business matters, both domestic and international. That was the reason why he was appointed, not for any other reason.

Asked if the Prime Minister’s call for concerted international action would be easier if we were part of the Euro, the PMS replied that our decision on whether or not we would join the Euro would be based on an assessment of what was in the British national economic interest. The way that we decided whether or not membership of the Euro would be in the British national economic interest would be by the assessment of the five economic tests.

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» Monday, December 1, 2008

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