Central Bank role in a petro-currency
Deputy Wilson asks whether the Central Bank could pursue a petro-currency with other central banks; the Minister says EMS improvements are under discussion. The Ceann Comhairle treats it as a separate question and moves on.
I am worried that the moralising takes place just before I ask for a supplementary question. Does the Minister think that the Central Bank might take an initiative in company with the central banks of the other countries in the EMS and, we hope, finally in the UK, to establish a petro-currency which will save us from the vagaries of the dollar such as we have to suffer at the moment?
Comment on this
It is, but for the Deputy's information I tell him that the operation and improvement of the system of the EMS is currently being discussed by the Council of Ministers with the Committee of Governors of Central Banks.
Comment on this
Ceist 4, but before we leave this let me say that I am not blaming the questioners entirely. Some Ministers are much too ready to become involved in debates at Question Time.