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HM Treasury

International issues

Economic and Monetary Union policy

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. 

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