Lord Trimble
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European Council
Lord Trimble Excerpts(14 years ago)
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Lord Strathclyde
Yes, my Lords. The noble Lord says that we have been accused of kowtowing too much to Europhiles. We have certainly been accused of kowtowing to Eurosceptics. The main point of this, which the noble Lord has understood very well, is that we have said clearly that if there is to be a transfer of power from this Parliament to the European Union, it should be subject to a referendum. We hear what people are saying in various polls about their view that too much power has been ceded, that they are not consulted enough and it is all being done the wrong way. We will make this a matter of statute when later in this Session we get to the European Bill, which I hope the noble Lord and other noble Lords will support.
The countries of the eurozone need to sort out their own problems. No doubt some of us will have different views as to how that should be done but, if there was a move down the road towards a European-wide fiscal solution for European-wide economic problems, we would oppose it.
Baroness Northover
I suggest that we hear from the noble Lord, Lord Trimble, and then the noble Lord, Lord Dykes.
Lord Trimble
My Lords, my noble friend is quite right to say with regard to the proposed new bailout proposals that they affect only the eurozone and do not affect us, so there is no change in our position and no need to consider a referendum on the issue. However, it is probably worth pointing out that, with regard to the eurozone, the proposed changes would be very substantial indeed. The new proposals empower the EU to enforce strict conditionality, which the Wall Street Journal says today is bureaucrat-speak for telling a country what it must do on taxes, spending and economic policy as a price for being rescued. Those are very substantial changes.
Lord Strathclyde
My noble friend is absolutely correct; they are substantial changes. However, the eurozone needs substantial changes because of the problems that it has found itself in.