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Lords EU Committee to open inquiry into Genuine Economic and Monetary Union

The House of Lords EU Sub-Committee on Economic and Financial Affairs will next week open its new inquiry into the European Commission's plans for Genuine Economic and Monetary Union (GEMU) by taking evidence from Katinka Barysch from the Centre for European Reform, John Peet, of The Economist and Mats Persson from Open Europe.

The Committee will ask the witnesses if the Commission's plans for GEMU would correct the flaws in the currency union which led to the sovereign debt crisis, whether treaty change will be needed to achieve a banking union as suggested by Wolfgang Schäuble, the German Finance Minister and whether debt mutualisation in the Eurozone in the form of Eurobonds is desirable.

The session will also cover what impact greater integration of an inner core could have on the single market and whether it could adversely affect the UK's economic prospects through, for example, its impact on inward investment or the position of the UK financial sector. 

The evidence session will start at 10:15am on Tuesday 21 May in Committee Room 3 of the House of Lords. The full details of the witnesses are:

  • Katinka Barysch, Deputy Director, Centre for European Reform;
  • John Peet, Europe Editor, The Economist; and
  • Mats Persson, Director, Open Europe.

The session will be webcast at and is also open to the public. Journalists wishing to attend should go to Parliament's Cromwell Green Entrance and should allow time for security screening.

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