EU: Finance

House of Lords written question – answered on 20 June 2011.

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Photo of Lord Ashcroft Lord Ashcroft Conservative

To ask Her Majesty's Government what would be the impact on the United Kingdom if a country left the eurozone whilst there was currency issued by that country in circulation.

Photo of Lord Sassoon Lord Sassoon The Commercial Secretary to the Treasury

There is no provision in the European treaties for the withdrawal of a participating member state from the single currency and no member state has expressed its intention to do so.

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