EU: Financial Assistance to Member States

Lord Davies of Oldham Excerpts

Monday 19th July 2010 Lords Chamber

[Lord Sassoon]

My Lords, I fear that I will not be able to persuade the noble Lord, Lord Pearson of Rannoch, of what I am going to say. However, there is no question of any bailout. The one thing I agree with him on is that Article 125 does indeed rule out any bailout. However, no bailout has been proposed or implemented under Article 122(2) or any other article because what have been proposed are loans, which are fully permitted under Article 125.

[Lord Davies of Oldham]

My Lords, given the range of opinions that exist on the coalition Benches, from Europhiles to Eurosceptics, would it be possible for the Minister to prevail on the Leader of the House to provide a little niche corner for the noble Lord, Lord Pearson of Rannoch, as he speaks neither for these Benches nor on behalf of these Benches, so he should not speak from them?

[Lord Sassoon]

My Lords, I am not sure what the question is or what it has to do with Article 125, but we were all entertained by it.