Extracts from Lords debate on Brexit: UK-EU Relations (EUC Report) - July 2
Tuesday, 3 July 2018 08:08
Lord Risby (Con):...We in Europe have collective energy
interests. Nord Stream 2 will go ahead, avoiding Ukraine.
Russia presently supplies 30% of Europe’s energy needs—40% in the
case of Germany—and this will rise. All of us in Europe will, to a
greater or lesser extent, be affected by this huge gas transmission
system. I simply point out that Russia has a history of pricing its
energy on the basis of how it determines the political attitude of
the recipient country. That in...Request free trial
(Con):...We in Europe
have collective energy interests. Nord Stream 2 will go ahead, avoiding
Ukraine. Russia presently supplies 30% of Europe’s energy needs—40%
in the case of Germany—and this will rise. All of us in Europe
will, to a greater or lesser extent, be affected by this huge gas
transmission system. I simply point out that Russia has a history
of pricing its energy on the basis of how it determines the
political attitude of the recipient country. That in itself means
that we have a common interest in looking at our energy
security...
(LD): It is a great pleasure to follow
the noble Baroness, Lady Quin, and all that she has said, but I
also agree entirely with the noble Lord, , that issues such
as Nord
Stream 2 are key and on the importance of the
financial services industry in the UK. However, I have to say to
him that, after Brexit, we will be just like a third country as far
as the EU 27 will be concerned —we will be the same as Singapore
and New York. Although other EU capitals will probably benefit
relatively marginally, certainly in Paris that marginal benefit
will be important to them, and it is a foundation of building up
their capability. That is how they see it. I do not think it is
appreciated how important the City is, and that is a great loss
because it is important not just to us but to the broader
world...
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