Referendum: European Union Debate
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Baroness Falkner of Margravine
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Referendum: European Union
Baroness Falkner of Margravine Excerpts(11 years, 4 months ago)
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Baroness Falkner of Margravine
My Lords, does my noble friend agree that the alternative proposals of the German finance Minister, Wolfgang Schäuble, for a two-step process towards a banking union have been floated precisely in order to avoid treaty change? The Germans have now come to the view that treaty change would be very difficult to achieve in light of the credibility of the eurozone at the moment.
Baroness Warsi
My noble friend is aware that the German finance Minister claimed that banking union could not be completed without a change to the treaties and therefore he has proceeded in the way he has. I go back to the general question on this matter, which is that reforms—including in relation to a banking union—can start to happen right now. It is right that we should continue to negotiate a better position for the United Kingdom, always keeping in mind the longer-term view of what more we can negotiate for a position that is better for us within the European Union.