Commenting on the work of the Delors Committee to identify the steps that would have to be taken if economic and monetary union within the European Community were to be pursued, the Governor emphasises the need for a gradualist approach that concentrates on the immediate and practical aspects of integration in the Community, where a consensus already exists. He goes on to discuss the challenges completion of the internal market in 1992 would pose for the City: and argues in particular that the strengthened framework of supervision, now largely in place, should benefit London in its efforts to maintain or enhance its position as an international financial centre.
Europe, 1992 and the City - Governor's speech given to the Overseas Bankers Club