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 8:09 pm on 10th September 2012.

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Photo of Emma Reynolds Emma Reynolds Shadow Minister (Foreign and Commonwealth Affairs) 8:09 pm, 10th September 2012

It is always a pleasure to intervene on the hon. Gentleman. I have in my hand an explanatory memorandum by a previous Economic Secretary, who is now the International Development Secretary. It states:

“The Government regrets that the Scrutiny Committee did not have time to consider this document”— meaning the document on the establishment of a European financial stabilisation mechanism—

“before it was agreed at Council. It should be noted that whilst agreement on behalf of the UK was given by the previous administration,” to which the hon. Gentleman has referred,

“cross-party consensus had been gained.”