LORDS

Euro area crisis

The Sub-Committee on Economic and Financial Affairs has conducted regular twice-yearly updates on the euro area crisis since the publication of a report on the crisis in February 2012. The most recent update was conducted in February and March 2014. This was followed by publication of the Euro area crisis: an update report on 4 April 2014.

Inquiry status: Inquiry concluded and Report published: Debated on 23 July 2014.

Every six months from July 2012 to March 2014 the EU Economic and Financial Affairs Sub-Committee held a short series of evidence sessions exploring the ongoing euro area crisis. This allowed the Sub-Committee to swiftly react to fast-moving events and involved taking evidence from prominent media experts, economists and the UK Government on the most salient issues at the time.

This culminated in a series of letters to the Financial Secretary to the Treasury, setting out the Sub-Committee’s reactions to the evidence heard. Issues that have previously been explored as part of this exercise include fiscal and banking union, Eurobonds, the impact of austerity and the ECB’s bond buying programme. This resulted in the publication of a new update report in April 2014.

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Publications

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    Glossary

    • Reports and associated evidence - reports and evidence featuring written submissions and corrected oral evidence published at the conclusion of Committee inquiries. Evidence is periodically updated over the course of an inquiry and is not finalised until the relevant Report is published.
    • Uncorrected oral evidence - transcripts of oral evidence not yet approved by the Committee or witnesses.
    • Other oral evidence - corrected transcripts of oral evidence, usually taken for scrutiny purposes or for ad hoc/regular evidence sessions with Ministers.
    • Evidence - written submissions and corrected oral evidence published for scrutiny purposes or for ad hoc/regular evidence sessions with Ministers.
    • Responses to Reports - Government Department and European Commission responses to reports.
    • Call for Evidence - request to submit evidence to a Committee inquiry.
    • Correspondence - correspondence received and sent by the Committee excluding ministerial correspondence.
    • Correspondence with Ministers - Ministerial correspondence received and sent by the Committee.
    • Progress of Scrutiny - records the decisions taken by the EU Committee on European documents that have been deposited in Parliament for scrutiny.

Members interests

Members' interests in relation to the update inquiry on the euro area crisis

The Members of the Sub-Committee have declared the following interests in relation to their work on the update inquiry on the euro area crisis:

Members are required to register any financial and non-financial interests that a reasonable member of the public might think would influence their actions in Parliament. The full text of the Register is available online: