New Clause 1 — Impact of the European Stability Mechanism on the UK

Part of European Union (Approval of Treaty Amendment Decision) Bill [Lords] – in the House of Commons at 6:15 pm on 10th September 2012.

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Photo of Wayne David Wayne David Shadow Minister (Justice) (Political and Constitutional Reform) 6:15 pm, 10th September 2012

There is one important element of the ESM with which I am not familiar—I frankly admit—and that is the degree of private sector involvement. In this respect, the IMF is an example of good practice, but given that I and—I suspect—many other Members are not familiar with this element, an effective annual report would be crucial.