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Treasury minister to give evidence to Lords Committee exploring economic and monetary union within the EU


Tomorrow, Wednesday 24 February, the House of Lords EU Committee will take evidence from David Gauke MP, Financial Secretary to the Treasury, as well as Jonathan Black, Director, Europe, at the Treasury.

The House of Lords EU Financial Affairs Sub-Committee is currently holding an inquiry into EMU, as outlined in the Five Presidents' Report and the recent European Commission Communication.

The evidence session is likely to cover areas such as the strengthening of EU institutions, the impact on the UK of the Eurozone attaining greater political integration, different aspects of striving for financial union, and the position of the City towards banking union.

Specific questions which the Committee will put to the witnesses could include:

  • What is your assessment of the Five Presidents' Report and the actions introduced in the short term by the European Commission on 21 October?
  • What are the most important priorities for the next phase of the process?
  • What impacts would greater political integration within the Eurozone have on non-euro area Member States, particularly the UK?
  • Is there merit in formalising the Eurogroup, or creating a ‘Euro' Council, treasury or finance minister?
  • How will the evolution of Banking Union affect the UK's banking sectors?
  • What can the eurozone and wider EU learn from the US where capital markets play a greater role in the allocation of capital?
The evidence session will start at 10:15am on Wednesday 24 February. It will be in Committee Room 4 of the House of Lords.

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