Lord Flight
Main Page: Lord Flight (Conservative - Life peer)Department Debates - View all Lord Flight's debates with the Leader of the House
(11 years, 2 months ago)
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Lord Flight (Con)
My Lords, I cannot entirely agree with the comment of the noble Lord, Lord Davies, that Sub-Committee A was of the view that the UK would suffer if it did not join the banking union. The point was surely that the body to which the ECB is accountable has a voting structure and if virtually all EU members did end up joining the banking union, theoretically it would then be possible for it to tell the UK what to do. In the negotiations over the banking union this country should ensure that the independence of banking policy is safe.
Lord Hill of Oareford
I completely understand the points that my noble friend makes. Those are very alive in the minds of our Ministers and officials negotiating this because they are keen to safeguard the position that my noble friend sets out very clearly.