LORDS

Euro Area Crisis and the fiscal compact treaty

The EU Committee conducted a short inquiry into the euro area crisis, and the 'fiscal compact' treaty proposed at the December European Council. The short inquiry built on work done by the Sub-Committee on Economic and Financial Affairs in the latter part of 2011, and also on an evidence session with Mr Charles Grant (Centre for European Reform) and Mr Edward Carr (Foreign Editor, The Economist), which was held on 29 November 2011.

The inquiry focused on the ongoing euro area crisis, the 9 December European Council meeting, and the proposal for a treaty between up to 26 EU member states on budgetary discipline and greater economic policy coordination in the eurozone.

The Committee held the the following oral evidence sessions:

Tuesday 17 January, 4.10pm: The Rt Hon David Lidington MP, Minister for Europe

Monday 23 January:

4.10pm: Professor Paul Craig, St. John's College, Oxford, specialist in constitutional and administrative, and European Union Law;
5pm: Mr Giuliano Amato, former Prime Minister of Italy, and Vice President of the Convention on the Future of Europe, 2001-03.

Given the short timescale for the inquiry, the Committee did not issue a formal call for written evidence. 

The Committee's report was published on the 14 February 2012. It received a response from the Government. Links to these documents are below;

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Publications

Title Date published
25th Report - The euro area crisis | PDF version 25th Report - The euro area crisis (PDF) 14 February 2012
The euro area crisis - Oral and Written evidence (PDF) 10 February 2012
Euro Area Crisis - Oral and Supplementary Evidence (taken by the Economic and Financial Affairs Sub-Committee) (PDF) 06 December 2011