The differences among the countries will have to be addressed through their budgets, within the confines of the Stability Pact, and especially by flexible labour and product markets. In these respects, the UK is streets ahead of the other major EU countries, and is therefore well placed for EMU. Conclusion Ladies and gentlemen, I have come to the end of my speech.
All things considered, the prospects are good for the UK making a successful entry into EMU somewhere in the first few years of the 21st century. The British Government’s commitment to membership of EMU, and their refusal to adopt a wait-and-see attitude can be regarded advantageous. In the meantime, the British should have a say in matters.