Eurozone Agreement

Lord Triesman Excerpts

Tuesday 10th January 2012 Lords Chamber

[Lord Howell of Guildford]

I have to agree with that general proposition. As far as I am concerned, no snubbing went on. The UK sought to protect its interests and the integrity of the European Union treaty. We will continue to work both for our interests and for the stable and orderly development of EU economies generally. That will require a lot of co-operation but certainly will not require the UK, for instance, to join the eurozone, and no snubbing is involved in saying that we would rather stay out of it.

[Lord Triesman]

My Lords, I understand the Minister's difficulty in answering some of these supplementary questions. There may not have been 27 countries that took a different view, but there were 26. One reason was that there was little diplomatic contact before the event to discuss it. Indeed, the Minister will find that the officials in his own department lamented the fact that they were not tasked with engaging diplomatically in advance of the December meeting. What can the Minister say about a positive programme of re-engagement to engage and repair relationships—because unless those relationships are repaired the prospects for us having a substantive input are very small?

[Lord Howell of Guildford]

Words such as “repair” are overdramatised. We are involved in the ad hoc working group and participating not just as observers. We want to see the eurozone crisis resolved in an orderly way for the obvious reason that implosion and disorder on the continent of Europe would undermine one of our chief markets. We are working very closely with our colleagues and the relationships and involvements continue as before. To dramatise this as a tremendous break and imply that Britain is isolated and marginalised is to falsify the position. On the contrary, we are in a very strong position and are anxious to see the European economy recover.