Eurozone Crisis

Debate between Nigel Mills and George Osborne

Thursday 27th October 2011 Commons Chamber

[Mr Osborne]

I completely agree with my hon. Friend. It is a remarkable position for the Labour leader to take when he says:

“I don’t think Brussels has too much power.”

What sort of negotiation would it be if he were in charge?

[Nigel Mills (Amber Valley) (Con)]

I, too, welcome the Chancellor’s efforts to protect British taxpayers from further bail-outs. I also welcome his statement that the International Monetary Fund exists to support countries that cannot support themselves, but I reiterate my concern that the IMF does not end up supporting a currency if a country chooses not to take the right action.

[Mr Osborne]

My hon. Friend has made a good point. The IMF exists to support countries, and supports 53 at present. It does not exist to support currencies.