Safeguarding the rights of non-Eurozone states in a multi-currency EU

Open Europe published on the 10 September 2015 a series of proposals for a new safeguard for countries, such as the UK, which are outside the EU’s single currency to protect them from being outvoted by the Eurozone bloc voting as a caucus – an idea which was expected to be a key part of Prime Minister David Cameron’s EU renegotiation ahead of the referendum.

Open Europe’s briefing argues that if three non-euro states vote against a proposal, the EU should aim for consensus. If this cannot be reached within six months, the proposal should either be dropped or only be pursued by a smaller group of member states. Such a mechanism would not only ensure the rights of non-Eurozone states and protect the single market but continue to enable the Eurozone to take the steps it needs to tackle its enduring economic crisis.

ESO: In Focus: Brexit - The United Kingdom and the European Union http://www.europeansources.info/record/brexit-the-united-kingdom-and-the-european-union/

ESO: Background information: EU Reform Index: Evaluating 30 potential proposals for EU renegotiation http://www.europeansources.info/record/eu-reform-index-evaluating-30-potential-proposals-for-eu-renegotiation/

Blog: Centre for European Reform, 27.07.15: Could eurozone integration damage the single market? http://centreforeuropeanreform.blogspot.co.uk/2015/07/could-eurozone-integration-damage.html

Mail Online, 10.09.15: George Osborne calls for safeguards for non-eurozone members and says the UK needs protection http://www.dailymail.co.uk/news/article-3228592/George-Osborne-calls-safeguards-non-Eurozone-members-says-UK-needs-protection.html

Open Europe: Impact, 25.09.15: Guaranteeing the rights of non-euro states in the EU http://openeurope.org.uk/impact/guaranteeing-the-rights-of-non-euro-states-in-the-eu/

---