Mr James Gray (North Wiltshire) (Conservative): I entirely agree with my hon. Friend about the threat to financial services and the importance of focusing on the City and welcome the fact that the Prime Minister has said that he intends to do precisely that at the summit. None the less, does my hon. Friend agree that there is a subtle risk that he could come back from the summit, waving, Chamberlain-like, a piece of paper in the air and saying, “Haven’t I done well? I have protected a number of things that were under threat in the City of London”—despite having ignored the historic opportunity of the summit and allowed several other things to slip by without repatriating anything at all in the process?

Andrea Leadsom (South Northamptonshire) (Conservative): That is an important point, because the Prime Minister will not be just having a chat and getting general agreement; he will want to get a firm assurance and put a marker in the sand saying, “We feel your pain and share your goal and will want to protect Britain’s specific national interest by including our own requirement in the treaty.” There cannot be simply a gentleman’s handshake, so that what is agreed can be watered down later. There must be a firm commitment on all sides that Britain’s national interest will be protected.

Source: http://www.publications.parliament.uk/pa/cm201011/cmhansrd/cm111208/halltext/111208h0001.htm#11120861000355