Bernard Jenkin
Main Page: Bernard Jenkin (Conservative - Harwich and North Essex)Department Debates - View all Bernard Jenkin's debates with the HM Treasury
(14 years ago)
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Mr Hoban
Indeed, that is why we have secured a clear and explicit exclusion in the report from the Van Rompuy taskforce—an exclusion based on the Lisbon treaty, but also based on the opt-out that we secured from the Maastricht treaty—so that the sanctions do not apply to the UK. As I have said, at the moment there are no detailed treaty changes on the table. We will have to wait and see what the French and Germans put forward at the weekend.
Mr Bernard Jenkin (Harwich and North Essex) (Con)
May I remind my hon. Friend that those of us who opposed the formation of the euro in principle warned that it would be a disaster, and that we have been vindicated by events? May I warn him now that the Government’s aspiration somehow to assist in creating a stable and strong euro area will be a vain attempt? The Government had better plan for the continuing disaster of a currency without a state, which is bound to be unstable in the long term.
Mr Hoban
My hon. Friend makes an important point. There are many sound arguments against the euro, and that is why we have ruled out joining it. However, it does us no favours to see a weak and unstable eurozone. It is important for eurozone countries to have strong fiscal discipline to ensure stability. The taskforce introduces a mechanism for eurozone countries to try to deliver that.