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 6:30 pm on 10th September 2012.

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Photo of Wayne David Wayne David Shadow Minister (Justice) (Political and Constitutional Reform) 6:30 pm, 10th September 2012

I am pleased that my hon. Friend made that intervention, as it takes me neatly to my next point.

The ESM is important for all parts of the United Kingdom—including Wales—because it will help to ensure that the eurozone becomes a stable and attractive market to which we can take products made in our constituencies of Swansea, Caerphilly and elsewhere. That is central to the debate, and it concerns me greatly that some—although not all—Government Members actually want the eurozone to collapse. They want that outcome for a pathological, ideological reason, without realising the immediate material consequences that it would have for jobs in our constituencies.