European Council

Catherine McKinnell Excerpts

Monday 22nd October 2012 Commons Chamber

[The Prime Minister]

My hon. Friend asks an important question. We need to see how the banking union proposals develop. We do not yet know whether it will be a full-on banking union or a restricted banking union. We do not know for certain the treaty base that will be pursued. If it is pursued on a basis of unanimity, it is absolutely key to make sure we safeguard the single market. I am very conscious of the fact, sitting round that table, that I am responsible for 40% of the European Union’s financial services industry. That, I think, must be our focus during these negotiations.

[Catherine McKinnell (Newcastle upon Tyne North) (Lab)]

Could the Prime Minister clarify whether he intends to opt in or out, or out and back into the European arrest warrant, bearing in mind that it was recently used to bring Jeremy Forrest, the maths teacher who disappeared with Megan Stammers, back to the UK?

[The Prime Minister]

This issue has been discussed at great length by the Home Secretary, who set out in great detail in the House of Commons recently that we are minded to exercise the opt-out that the previous Government put in place, but there are safeguards that we want to seek for the arrest warrant.