European Economic Community (Summit Meeting)

Part of the debate – in the House of Commons at 12:00 am on 17 October 1972.

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Photo of Mr Geoffrey Rippon Mr Geoffrey Rippon , Hexham 12:00, 17 October 1972

In so far as legislation is required to give effect to treaty obligations, it has to come to this House. There is no question of a communiqu£ of that kind constituting a treaty which would be immediately binding on this country in the context of economic and monetary integration. This is a matter which clearly will take a long time. It is worth bearing in mind how long it took us after the Hague communiqué to reach a situation in which we achieved enlargement of the Community. The same process will take place in this respect.

We believe that effective economic and monetary integration is essential if European countries are to exploit their economies to the full. This is a view which has been expressed by a former Labour Chancellor of the Exchequer, the right hon. Member for Cardiff, South-East (Mr. Callaghan). He was not talking of what would happen today or tomorrow but about a long-term objective. It is a long- term objective which has been accepted by successive Governments.