The below Parliamentary question was asked by Lord Stoddart of Swindon on 2016-03-08.
To ask Her Majesty’s Government whether parliamentary approval would be required for any decision to join the eurozone, and if so, why the Prime Minister has stated that the UK will never join the eurozone, in the light of the fact that one Parliament cannot bind its successor.
Lord O’Neill of Gatley
As set out in Protocol 15, the United Kingdom is under no legal obligation to adopt the euro as its currency. Under the EU Act 2011, a decision by the UK under Protocol (No 15) leading to a decision by the Council under article 140 (3) of the Treaty on the Functioning of the European Union would require an Act of Parliament and a referendum result in favour before a Minister of the Crown could support it.
The Prime Minister has been clear that Britain will never join the euro.