David Nuttall
Main Page: David Nuttall (Conservative - Bury North)Department Debates - View all David Nuttall's debates with the HM Treasury
Eurozone Financial Assistance
David Nuttall Excerpts(13 years, 6 months ago)
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Mr David Nuttall (Bury North) (Con)
Was not that line left in the motion because it is a fact—which there is no point in denying—that the European Scrutiny Committee stated that the European financial stability mechanism was legally unsound?
Chris Heaton-Harris
I shall come to that point directly.
Members on both sides of the House know that the Government would not have accepted the motion tabled by my hon. Friend the Member for Rochester and Strood (Mark Reckless), and that if we were to vote on the original text it would be probably be defeated, and the House would be left without a view on this matter. My amendment, which I should like to think has a good chance of being passed, would enable the House to adopt the words of the European Scrutiny Committee.
I believe that the legality of the EFSM, and indeed that of the European financial stability facility—the EFSF—has been questioned in relation to the EU treaty’s “no bail-out” clause, which states that the EU and member states
“shall not be liable for or assume the commitments of”
other member states.