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European Council

As I have said, the stabilisation mechanism is based on the difference between the European budget and its headroom. That is a fact set out in the decision made by the right hon. Member for Edinburgh South West (Mr Darling). The debate in Europe at the moment is about replenishing the other facility. That is known as the facility rather than the mechanism, which, of course, Britain is not in. That is a eurozone facility, and there is a debate in Europe about whether that should be topped up and increased. Obviously, from our perspective, we are keen on Europe using the facility rather than the mechanism.