Ms Brenda McVeigh:

Luxembourg also has a major financial centre and it stayed out of the legal challenge. Luxembourg and the Czech Republic have been very vocal in their support of the United Kingdom. At the time we could not be because we held the Presidency and we agreed to stay neutral on everything, as all member states do in that position. However, there is nothing stopping us challenging the final text. The United Kingdom took the challenge now because it had legal advice, although not everyone would necessarily agree with it. The advice was that if it did not challenge now, it might be precluded from challenging texts later because it was a non-participating member state. I am unsure whether we agree with that position. As far as I am aware and as far as our understanding goes we are always able to challenge it in the final analysis and, in a way, there was no need for us to do so now. Of the 27 member states, the United Kingdom was the only one that took the view that it had to open that challenge now. It is more of a technical challenge as opposed to a challenge on the substantive part of directive.