§ Mr. Michael Brown
asked the Chancellor of the Exchequer if he will make a statement about the meeting of the European Community Economic and Finance Council in Brussels on 10 December.
§ Mr. Lawson
I represented the United Kingdom at this Council.
The Council adopted negotiating mandates on export credits for aircraft and mixed credits. The Council reached agreement to extend for two years the medium term financial assistance facility and to adopt the Commission's annual report on the economic situation in the Community.
Ministers also considered a Commission paper on strengthening the European monetary system. This issue was referred back to Committees for further consideration.
The Council also considered a number of other issues, including FEOGA guidance expenditure; the non-life insurance services draft directive; measures concerning travellers' allowances; the draft unit trust directive; and the 20th VAT directive.