Eurozone

Baroness Falkner of Margravine Excerpts

Thursday 17th May 2012 Lords Chamber

[Lord Sassoon]

My Lords, like my noble friend Lord Howell, I did not see the article. I thought that my noble friend’s answer yesterday was exactly to the point. Ideas have been floated around that the European Investment Bank should increase its capital and stability and in some way its ability to lend. If proposals come forward, we will look at them, but it is very important that the EIB does nothing to prejudice its own debt rating.

[Baroness Falkner of Margravine]

My Lords, given the relatively healthy state of the German economy and its growth rate, are the Government having any conversations with the Germans about using fiscal measures to unleash some consumption and spending within Germany so that 80 million Germans do not keep their money under their mattresses but use it as a spur to generate further growth?

[Lord Sassoon]

My Lords, we do not offer advice to the Germans on how to manage their own economy any more than they would offer advice to us.