European Economic and Monetary Union

Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 22nd March 1973.

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Photo of Mr John Cronin Mr John Cronin , Loughborough 12:00 am, 22nd March 1973

Will the right hon. Gentleman consult his EEC colleagues and try to do something to bring about a much more stable situation? Does he agree that another international monetary crisis is bound to occur in the next 12 months, under the present arrangements? Will he bear in mind that unless the Government improve their management of the country's economy the pound will float down to a level where the cost of food and raw materials will become even more intolerable than at present?