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The report The Euro Area Crisis (HL 260) concludes that the optimum outcome from the December European Council meeting would have been for an agreement on a new treaty to be signed by all Member States, to deal with the crisis and to protect UK interests. As this did not happen the Government did not publish the safeguards which the Prime Minister sought. The Committee now calls upon them to do so. The Committee warns that there is a risk of discussions shifting from the main European Union (EU) channels, to forums where the UK has no voice which could marginalise the UK's influence in Europe over time. In the Committee's view the UK, the other Member States, and the EU institutions must find a way to secure fiscal integration for the Euro Area States, while at the same time protecting the integrity of the single market as an engine of economic growth for all 27 Member States of the EU. The proposed treaty raises a number of legal issues which th