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My argument is that the Bill does not help us to deal with, or give us a veto over, the problems of Europe as they are. Those problems are the real threat to this country. Let us say that we are doling out £100 billion to Greece and £100 billion to Ireland and if Spain is the next to collapse, the figure could be about £400 billion, so the whole fund of £750 billion could be gone in one fell swoop. Germany will not let that go on. At some point, the system must collapse.
The Bill has nothing to say on that process and the Government will not tell us what they are doing in the European negotiations. What is our point of view? Are we prepared to support that process and to commit money? The Bill will not give us a veto over any such commitments and the Government will not even tell us what those commitments are. That is a disastrous situation. There will have to be a big bail-out. This situation cannot be dealt with by Elastoplast, with a bit here and a bit there. It must be dealt with by a fundamental reorganisation of the euro. In my view, a default is the only way in which to save the situation.
The Bill does nothing about that issue and nothing about one of the other major issues facing Europe-the entry of Turkey. The Foreign Secretary said that that matter is excluded from the Bill, but it would be a fundamental change to Europe. We should think of the immigration problems-to say the least-that would occur if Turkey, which has a much bigger population than most existing member states, were allowed into the European Union.