EU: UK Settlement

Lord Spicer Excerpts

Wednesday 8th June 2016 Lords Chamber

[Baroness Ludford]

Does the Minister agree that the February decision—

[Lord Spicer (Con)]

My Lords—

[Noble Lords]

This side!

--- Later in debate ---

[Baroness Anelay of St Johns]

My Lords, the noble Baroness is right to point to the fact that the deal is indeed in international law and therefore its terms are certain, and that, at the moment, those who wish to reject that deal have not set out the alternatives.

[Lord Spicer]

My Lords, in addition to the legal point made by the noble Lord, Lord Pearson, is there not a question of logic? Is it really possible to contemplate a genuine single market with one country having its own currency? If we stay in the European Union, is it not the case that ultimately we will be forced into the single currency?

[Baroness Anelay of St Johns]

My Lords, no, part of the agreement is that there is a protection for the United Kingdom to retain a veto to remain outside the eurozone.