Treaty on Stability, Co-ordination and Governance

Laura Sandys Excerpts

Wednesday 29th February 2012 Commons Chamber

[Laura Sandys (South Thanet) (Con)]

I am sorry that my hon. Friend the Member for South Dorset (Richard Drax) is going to be crying over the treaty. His constituents will be worried about this, as we all are, but it is not only about the treaty, because that is merely the result of a major crisis. In debates in this House, we often express concern, in many respects, about many countries, whether they be Somalia, India, or the economies of the far east. Those economies impact on this country. It is crucial that whatever emerges from the way in which the EU implements the treaty serves our national interest by ensuring our greater economic security.

I share Members’ fears about whether the treaty will deliver the right result. Over the past 18 months, we have watched the economic meltdown across Europe being met with inactivity and summit after summit, as Ministers from all over Europe have come together but there has been no endgame, no result, and no agreement. This comes extremely late in the game. That means that whatever is done will cost Europe—the eurozone—a lot more money than if the situation had been addressed 18 months ago. This is not a day when Europe is shining in its glory. This has come too late, in a crisis, and as a result Europe has cost itself more money.

It is not in our interests to be part of the treaty, but it must be in our interests to support Europe in sorting out its own economic situation. I worry whether it will be successful, but very much hope that it will be. I know, however, that we are in a better position than we were before the Prime Minister went off to Brussels to veto the treaty. The veto is in place protecting the UK from the treaty, and we are giving our support in ensuring that the European economies get their act together.