Euro: Support for Joining

Lord Hannay of Chiswick Excerpts

Monday 9th May 2016 Lords Chamber

[Lord Hannay of Chiswick (CB)]

My Lords, would the Minister not recognise that there is a total difference between what we might or might not have lost from not joining the euro and what we might or might not lose from leaving the European Union and—as I gather the leave campaign now proposes—leaving the single market? The two things are apples and oranges, and it is not wise to confuse them. By the way, the names of those who supported joining the euro in 1999 are a matter of public record, and I will help the noble Lord by saying that I was a member of the council of Britain in Europe.

[Lord Ashton of Hyde]

My Lords, I agree with the noble Lord that being a member of the euro and being a member of the EU are two different things. The Prime Minister has negotiated that we will have a special place in Europe, because the decisions of the EU will not depend on whether we are in the euro and we will be protected in the EU although we are not a member of the eurozone.