Let's Put This In Perspective
Strasbourg -- Tuesday 13th December
In a speech today, I urged fellow MEPs from all Member States to look at Britain's position following the European Summit in a calm and sensible manner.
Certainly in this challenging time for the Eurozone, when stability is threatened across Europe (and repercussions beyond), it is not the time to emotionalise the issue. Our Prime Minister, David Cameron, made a decision which was practical and necessary to protect the UK's interests.
Here is what I said:
"Now is not the time for hysteria, for exaggeration, or for melodrama on any side. We should analyse the events of last week coolly and calmly.
"The United Kingdom was not in the Euro on Thursday and it was not in the Euro on Saturday. Nothing changed. The United Kingdom wants to see a solution to the Eurozone crisis, but not a solution at the expense of the single market. Competitiveness continues to be key. The United Kingdom is still a full member of the European Union and will remain so. We do believe it is in our national interests to be part of the EU.
"The UK's position on the Euro is unique. We, also, have a major trading currency. It clearly makes sense for existing Eurozone countries to strengthen the rules governing the Euro in the future -and it would seem logical for countries who aspire to join the Euro to sign up to those rules in preparation for their eventual membership.
"It not only makes little sense but it seems unfair to make such a demand on the UK, unless safeguards could be secured for areas which might otherwise have been brought within this new 'Eurozone treaty'. It will not just be about protecting the city of London but protecting Europe from the city too. Those safeguards were not forthcoming; the British Government's response was pragmatic.
"Whether in the Euro or not, we all need the Eurozone to be stable and prosperous, a strategy for dealing with the Greek debt crisis, the wider sovereign debt problem, and the underlying banking weakness. Reducing budgetary debt, adjusting loan arrangements, and improving the capitalisation of our banks should be the real priority of our leaders today."
