Anne Main questions the Prime Minister about the future of the European Union as the eurozone move towards greater economic and monetary integration.

Mrs Anne Main (St Albans) (Con): My right hon. Friend said in his statement that there are “questions of national sovereignty” and that this will “alter the European Union for all of us”. Are there any debates in public about this newly created eurozone? What animal will be created and what national sovereignties will be lost? We need to know the being of which we are part.

The Prime Minister: The point I would make to my hon. Friend is that there are clearly lively and vigorous debates in eurozone countries, because they are at the sharp end and can see absolutely that there is a battle over national sovereignty, how much say they will have over setting their own budgets and how much of those budgets will be determined by the European Commission. Part of what was discussed by the eurozone at the Council was effectively a set of future contracts whereby countries might have to enter into a contract with the European Commission about their future budgets. There is a very live debate in those countries. We are not in the eurozone, so we are not affected by those contracts, but my argument is that change in the eurozone has knock-on effects for the organisation of which we are a full member and that is why it is so important for us to consider these issues.

| Hansard