Lord Myners
Main Page: Lord Myners (Crossbench - Life peer)
Lord Sassoon
I thank the noble Lord for his questions. First, to be clear, it is the view of the UK Government that no illegal action has been taken under Article 125 or any of the other relevant articles. On the UK’s exposure, we have not as a country participated in the €440 billion special purpose vehicle for assistance. We do, however, participate in the €60 billion finance facility, which is available to any member state under Article 122.2 and which we think strikes an appropriate balance between the eurozone taking primary responsibility for stabilisation within the eurozone and the important part that we have to play as part of the wider EU 27. For completeness, we participate in the IMF standby facilities.
Lord Myners
Can the Minister confirm categorically to the House that the Government will in no circumstances divulge to European institutions the thinking behind or the detail of proposed Budgets or the work of the OBR? Does he agree that if that categoric assurance cannot be given, there are grounds for a referendum?