Local view for "http://purl.org/linkedpolitics/eu/plenary/2009-10-21-Speech-3-020"
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"en.20091021.2.3-020"2
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"Mr President, it is disappointing – but not unexpected – that the Council and the Commission are determined to push ahead with the Lisbon Treaty. I know that it might not be popular in this House, but it is my genuinely-held belief that in the United Kingdom, there should be a referendum on the Treaty. I do not understand why both Conservatives and Labour are unwilling to give that.
However, this morning I want to direct your attention, Minister, in particular, to the financial crisis that continues to dog Europe. Last night, Mr Mervyn King, Governor of the Bank of England, indicated that UK lending to the banks was close to GBP 1 trillion. Indeed, he indicated that never before had so much money been owed by so few to so many people and with so little real reform. Mr King went further to indicate that regulation of the banks was not enough, but that there was a moral dilemma at the heart of this banking crisis in that financial and banking institutions knew that they were too big to fail and that the taxpayer, whether in the United Kingdom or in any of the other regions of Europe, would always have to help them out, no matter what the crisis. This is a very serious charge, Minister, and comes from one of the banking world’s own leading members. There must be a will to tackle this moral dilemma at Council meetings, and this House would be interested to know what that will is and how it will be done."@en1
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