Eurozone

Lord Dykes Excerpts

Monday 9th July 2012 Lords Chamber

Asked By

[Lord Dykes]

To ask Her Majesty’s Government when they next intend to discuss the plans for a full fiscal, monetary and banking union for the eurozone at forthcoming meetings of the European Union Economic and Financial Affairs Council and the General Affairs Council.

[The Commercial Secretary to the Treasury (Lord Sassoon)]

My Lords, the June European Council discussed a report by the four presidents on strengthening economic and monetary union. They will conduct further work and report back to the European Council in December with an interim report in October. There is likely to be discussion on aspects of these issues in a number of different fora before and after the December report.

[Lord Dykes]

I thank the Minister for that Answer. I congratulate Her Majesty’s Government on their strong official support for the eurozone summit agreement success, in stark contrast to the negative carping of some Tory MPs and MEPs and of a few voices in the Christian Social Union in Bavaria.

[Lord Sassoon]

I am grateful to my noble friend for confirming the success of the recent European Council, a Council which confirmed among other things that the single market had to be considered in the context of fiscal union, which brought important parts of the new EU patent court to London, and which considered a raft of other growth-related matters.