The UK government's policy on Economic and Monetary Union (EMU)

On 9 June 2003 the Government published the assessment of the five economic tests, the 18 supporting studies and the third outline national changeover plan.

The assessment sets out the real benefits to Britain of membership of the single currency, shows that with the achievement of sustainable convergence and flexibility all five tests could and can be met, and lays down the concrete and practical steps which the Government will follow – radical steps which set out a new direction for reform, steps which set out the clear path ahead for Britain.  At all times the Government has and will put stability and the national economic interest first.  To read more ...

A separate microsite containing the executive summary of the assessment is also available. Click on the graphic below to view. Please note that the site will open in a new browser window.

back to top

Internal links

• UK Membership of the single currency: an assessment of the five economic tests (full report)
• Speech
• EMU studies index
• National Changeover Plan
• Other documents published by the Treasury on Economic and Monetary Union  including the October 1997 assessment and David Currie's 'The Pros and Cons of EMU'
• Aelodaeth y DU o’r arian sengl (Welsh version of Executive summary )
• Government response to the Treasury Committee´s report, the UK and the Euro, July 2003

External links

• Euro Information website
• Bank of England
• European Central Bank
• The Council of the European Union
• The European Commission

back to top
HM Treasury homepage