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Meg Munn MP - Sheffield Heeley's voice in Parliament | Welcome
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Meg Munn welcomes new commission on the Euro

Friday, November 8, 2002

Meg Munn, Labour and Co-operative MP for Sheffield Heeley has today welcomed the establishment of a new commission, made up of eleven of the world’s leading economists, to consider the consequences for Britain’s economy of a decision to reject membership of the euro.

The international commission on The Economic Consequences of Saying ‘No’ is chaired by Professor David Begg, of Birkbeck College, University of London.

Professor Begg said

“So far, the British debate about the euro has suggested that Britain’s choice is between joining the euro and carrying on as we are. However, we should not take it for granted that the status quo will remain an option if Britain rejects the euro. That is precisely what the commission will investigate, and I hope our dispassionate analysis will help to rebalance the debate.

The impact of remaining outside the euro will of course be a vital part of the Treasury’s assessment of the five tests.

It is important to underscore that although funded by Britain in Europe, the commission is completely independent and we are free to  reach whatever conclusions we believe are warranted."
Meg Munn said
"I would be concerned about the consequences of Britain"s long-term isolation if we do not have the euro in due course.
We need to be quite clear, when it comes to a referendum, that we can explain to the public,  not just what will happen if we do embrace the euro, but also what will happen if we do not.
Europe is changing, the Franc, the Mark and the Lira have already gone, it can never again be "how it was", whether we do adopt the euro or not. It is good news that experts are putting their minds to this complex situation."

The commission hopes to publish its report around the turn of the year.


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