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European Union Bill

I am afraid that that is ridiculous. I was leaping with joy when the hon. Gentleman, a Liberal Democrat, said he was taking a point that I had made. I thought that sense had at last dawned, but alas it turned out to be only stupidity. Nobody is suggesting that the UK would want Europe to be liable if our system failed. The crucial point is that we did not enter the euro. Having not entered it, we should be immune from the consequences imposed on those who did. That is all I am saying. I do not want European aid. The wisdom of former Chancellors in keeping us out of the euro allows us to adjust our exchange rate. Other nations have problems because they cannot do that. We have had a 25% devaluation, and the pound could—and should, in my view—go lower. That reduces the cost of our currency and makes us competitive once again. That is our adjustment. We do not need help or aid because we have the flexibility of being outside the euro. Does the hon. Gentleman want this economic education class to continue or will he keep quiet?