§ Mr. Eric Deakins
asked the Minister of Agriculture, Fisheries and Food what is the estimated cost to the European Economic Commission budget of the recent European Economic Commission proposal for devaluation of the green pound and the green French franc; if Finance Ministers were consulted about this proposal; and if he will make a statement.
§ Mr. Jopling
The Commission estimates that implementation of its proposal to devalue the green pound and the green French franc would cost the EC budget 95 mecu in a full year. The proposal is under discussion in the Council of Agriculture Ministers and subsidiary bodies. Devaluation of the green pound was requested by the British Government.