---

European Council

My Lords, I sympathise with the noble Lord, with the puppies snapping at his heels, but will he accept my congratulations on the first few paragraphs of the Statement which say that we indeed think that it is in Britain's interest to bring stability to the eurozone? That is an important signal for people in the City of London and elsewhere who think the opposite. Secondly, President Sarkozy, Chancellor Merkel and our Prime Minister have written a joint letter on the budget. If we are going to have that close triangular relationship, does it not follow that that will probably be true of banking, energy policy and other areas? The question of creep towards Brussels running things, which is a bit of hyperbole, is one of evolution rather than any major revolutionary change.