Motion to Take Note

Part of Financial Supervisory Framework: EUC Report – in the House of Lords at 6:39 pm on 12th January 2012.

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Photo of Lord Harrison Lord Harrison Chair, EU Sub-Committee A - Economic and Financial Affairs, and International Trade 6:39 pm, 12th January 2012

My Lords, social commentators often identify a dank dark day in January after the Christmas celebrations, before the summer, as the time when the nation becomes its most despondent. I rather feel, along with the pathetic fallacy articulated by the romantic poets, that in bringing this debate before Parliament I might identify and echo a mood that is consonant with such depression.

What I am very pleased to say is that this has been an important debate and I welcome the contributions offered by each and every Member-particularly the late contribution of the noble Baroness, Lady Wheatcroft, who listened patiently to what was said. In contrast, I feel stimulated about the debate and I am quite sure that we will have to return to it in our examinations of these new and important authorities that will have such importance to the United Kingdom, the European Union and more widely.

Noble Lords should forgive me if I do not comment on every contribution, each of which was valuable. However, perhaps on a lighter note, I congratulate the noble Lord, Lord Hannay, on the subtle welcome he gave to the six-month Danish presidency of the EU by his reference to "Hamlet". Perhaps he might provide such ingenuity on 1 July later this year, when the Cypriots take over the presidency, with a simple reference to "Othello".

Motion agreed.