1.   European Union finance ministers and central bankers agreed to create a currency grid to limit exchange rate volatility between the euro and currencies left out of the monetary union.

2.   Membership will be voluntary, allowing the U.K., which opposes membership of currency grids, to remain out of it.

3.   Ministers agreed at their last meeting in Verona, Italy, in April that membership of such a currency grid should be voluntary.

4.   Most EU member states have agreed that countries would have to belong to this new currency grid if they want to join the common currency once it starts.

5.   Membership would be voluntary, allowing the U.K., an opponent of such currency grids, to remain out of it.

6.   Sweden and Finland have also expressed doubts about joining a new currency grid.

7.   The currency grid will be voluntary.

8.   The Greek currency has recovered from turbulence in early March in the Exchange Rate Mechanism, the flexible European currency grid designed to help currencies achieve relative stability.

9.   The second is on the creation of a currency grid aimed at preventing EU nations outside the monetary union from devaluing their currencies against the euro.

10.   The U.K. has remained adamantly opposed to rejoining the currency grid, or any future exchange rate mechanism, preferring inflation and deficit targets to ensure money stability.