I agree with my hon. Friend. There is a double deception in the concept, first, that the treaty is not a centralising measure, and, secondly, that we can fall back on subsidiarity. As my hon. Friend will recall, one of the prime tenets of subsidiarity and one of its so-called attractions is that it will bring decisions closer to the citizen. Nothing could possibly take powers further from the citizen—his most important power is his right to vote —than to transfer the power to make decisions on monetary matters, which is accumulated in aggregate among the voters in a general election, and hand them over to unelected, unaccountable bankers. The whole thing is not only a contradiction but a fraud. I agree with my hon. Friend the Member for Bedfordshire, North (Sir T. Skeet), for that and many other reasons.