Lord Peston
Main Page: Lord Peston (Labour - Life peer)Department Debates - View all Lord Peston's debates with the HM Treasury
(13 years, 4 months ago)
Lords ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Lord Peston
My Lords, is the Minister aware that some of us do not believe in exaggerating the problems of the eurozone or using the word “crisis”, which is immensely damaging and should not be used by Her Majesty's Government? Is he aware that, overall, the eurozone has been a great success? A vast amount of eurozone paper is held willingly throughout the world and ever more trade is being carried out in euros. Is it not about time that Her Majesty's Government took at long last a more positive attitude both to the eurozone and to Europe in general?
Lord Sassoon
My Lords, we take as a Government a very positive and pragmatic attitude towards Europe and the eurozone. It is after all where 40 per cent or more of the UK’s exports go. We wish the eurozone success. In the ways that I have sketched out and we have discussed on other occasions, we will be supportive, particularly on completing the single market and putting in place structural reforms. At the same time, it is right for countries to make their decision as to whether they want to be in or out, and the UK has made and continues to make the right decision about where we are.