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Treaty of Lisbon (No. 2)

This is one of the central issues. With respect to my right hon. and learned Friend the Member for Rushcliffe (Mr. Clarke), I think that he is wrong. This is a serious and worrying power. I hope that in unusual circumstances we would do what is right to protect the overall economy of Europe, but we know how to do that. We do not need it mandated to us by the European Union. That is what this power does. The article contains the words"““upon the measures appropriate to the economic situation””." That is quite a broad-ranging power. It is not restricted to terrorism, as the Secretary of State suggested. It is an unnecessary transfer of power, but we should retain national discretion as to what we think is right in the appropriate circumstances.