The economic crisis gripping the EU will be the subject of discussion in the House of Lords on Monday 21 May, when it debates the report from its European Union Committee, The Euro Area Crisis. The report, published in February, looked at economic, financial and institutional aspects of the crisis, in addition to examining the proposed treaty
The debate is expected to cover the impact of the significant recent political and economic turbulence in countries such as Spain, France, Germany and Greece, as well as issues such as the future of the Euro area and how sustainable economic growth can be resumed.
Ahead of the informal gathering of EU leaders due to take place on Wednesday, the debate is an opportunity for the Committee and House to press the Government further on the status of the fiscal compact treaty, what measures it thinks are needed to respond to the crisis, and what progress is being made on the implementation of the growth agenda that was set out by the EU in March.
Lord Harrison, Chairman of the EU Sub Committee on Economic & Financial Affairs, will open the debate, which is scheduled to hear from other Members including:
- Lord Grenfell (Labour), former member of the UK Delegation to Parliamentary Assemblies of Council of Europe and Western EU
- Lord Higgins (Conservative), former Minister for the Treasury
- Lord Judd (Labour), former member of the Council of Europe Parliamentary Assembly
- Lord Maclennan of Rogart (Liberal Democrat), former member of the Convention on the Future of Europe
- Lord Marlesford (Conservative), sits on the EU Sub-Committee on Economic and Financial Affairs
- Lord Monks (Labour), adviser to President Barroso, President of the European Commission
- Baroness Noakes (Conservative), former Director at the Bank of England
- Lord Willoughby de Broke (UK Independence Party), former Vice-President, Conservatives Against a Federal Europe
Lord Sassoon will respond on behalf of the government and Lord Davies of Oldham for the Opposition.
The debate is scheduled to start at approximately 7.00 pm.