Perhaps I may interpose a thought on this important point. My noble friend Lord Lamont several times mentioned the European financial stability mechanism. Does the noble Lord accept that, when it comes to financial crises arising and bailouts being instituted, the mechanism will take some years to come into effect? While I agree that technology can drive an impetus for change, in general I do not see any decision-making processes in the EU being affected by this. The bailouts were urgent for the countries involved, yet they will take about two years to implement.
European Union Bill
Proceeding contribution from
Baroness Falkner of Margravine
(Liberal Democrat)
in the House of Lords on Tuesday, 3 May 2011.
It occurred during Committee of the Whole House (HL)
and
Debate on bills on European Union Bill.
Type
Proceeding contribution
Reference
727 c395
Session
2010-12
Chamber / Committee
House of Lords chamber
Subjects
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Timestamp
2023-12-15 15:44:16 +0000
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