European Single Currency

Main composite motion to TUC 2002, moved by CYWU.
Congress does not believe that the interests of manufacturing industry, public services and the trade union movement will be best served by a referendum on the European Single Currency unless a sustainable exchange rate between the pound and the euro is achieved; greater government support for the consolidation and expansion of the European Social Model is demonstrated; and assurances regarding any repercussions of entry on public expenditure are received.

Congress supports the policy of the Government that the five tests set by the Chancellor of the Exchequer will define whether a clear and unambiguous case for joining the euro can be made. The high pound is damaging British industry. Congress calls on the Government to give priority attention to bolstering British manufacturing, and to ensuring that our public service provision and workers’ rights are enhanced to the level of our EU partners. Congress therefore calls on the Government to bring forward its assessment of the five economic tests.

In preparation for a referendum Congress calls on the General Council to place before each Congress prior to any such referendum factual information concerning prices, unemployment, growth, public expenditure, the Stability and Growth Pact and industrial relations in each of the eurozone countries.

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