European Council

Lord Lancaster of Kimbolton Excerpts

Monday 24th October 2011 Commons Chamber

[The Prime Minister]

The hon. Gentleman makes an important point: as the eurozone comes together and the governance arrangements change, it is important that those countries that are not in the eurozone—and, in our case, do not want to join—have their interests protected. That is why, in the Council conclusions, I secured specific language about ensuring a level playing field and that countries outside the eurozone are protected. This is a journey. The eurozone is going on one journey, where it sees closer collaboration and co-operation, but I believe that countries outside the eurozone will be looking for further protections to ensure that some of our vital national interests—things such as financial services—are properly protected and not put at risk by what is happening in the eurozone.

[Mark Lancaster (Milton Keynes North) (Con)]

History tells us that following military victory, such as in Iraq and Afghanistan, we have just 100 golden days to deliver stabilisation before the joy of victory turns to despair among the local population. The clock is now ticking, so will the Prime Minister say a few words about how we will deliver this stabilisation?

[The Prime Minister]

We worked closely with others on a stabilisation and reconstruction plan for Libya. A lot of work went into that. I am optimistic because we have seen how the national transitional council is genuinely national and bringing the country together, not wanting a division between Benghazi and Tripoli. It is transitional, and the clock is now ticking for it to set up a genuine transitional Government within 30 days. Everything that I have seen of the Libyan leadership shows that it wants to get on with rebuilding its country, and because of its oil wealth and the size of its sovereign wealth fund, it has the means by which to do it.