New Clause 3 — Report on the impact of the European Stability Mechanism on the economic performance of the European Union

Part of European Union (Approval of Treaty Amendment Decision) Bill [Lords] – in the House of Commons at 8:15 pm on 10th September 2012.

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Photo of James Clappison James Clappison Conservative, Hertsmere 8:15 pm, 10th September 2012

I am grateful to the hon. Lady for giving way; she has been most generous. Throughout the debate, I have been interested in how the various measures will be financed. She has now turned from Mr Draghi’s proposals to those that we have in front of us today. What is her view of the fact that Italy and Spain seem to be significant contributors to the ESM, even though she has just mentioned them as being prospective beneficiaries?