EU Council

Stuart Bell Excerpts

Monday 12th December 2011 Commons Chamber

[The Prime Minister]

I am grateful for my hon. Friend’s support. I agree that it is important that, when considering changing the institutions of the EU, there must be unanimity, and the veto is there for a purpose—if you feel that the national interests are not being protected. It is important that we maintain that in the EU.

[Sir Stuart Bell (Middlesbrough) (Lab)]

The Prime Minister talked of us being a trading nation, of investment in jobs and of the importance of the eurozone. Why, then, did he not help the Greeks in their bail-out? Why has he not supported the European financial stability facility? Why is he not helping the European stability mechanism? Building on the questions from the right hon. and learned Member for North East Fife (Sir Menzies Campbell) and my hon. Friend the Member for Rhondda (Chris Bryant), what specific measures can the Prime Minister announce today to help the euro, trade, investment and jobs?

[The Prime Minister]

I respect the hon. Gentleman, who has a long track record on these issues, but on the Greek bail-out I am afraid I just do not support him. Britain was not in the original Greek bail-out—rightly, I think—and we should not be in subsequent Greek bail-outs. Frankly, the last Government made a mistake in getting us into the euro bail-out mechanism. We have got out of that, but that does not mean that Britain is not a generous nation that wants to help its allies. We have lent £5 billion to Ireland, and our economies are very integrated. I think the Irish are doing some very difficult things to get their economy back on track, and we support them in the work they are doing.