Greece: New Government

Baroness Ludford Excerpts

Tuesday 3rd February 2015 Lords Chamber

[Baroness Anelay of St Johns]

My Lords, it is clear that the stand-off between Greece and the eurozone is fast becoming the biggest risk to the global economy and is a rising threat to our economy at home. I say that, and indeed the Chancellor of the Exchequer said it yesterday after his meeting with the Greek Finance Minister. It is up to Europe to come to a conclusion which means that Greece can remain part of the euro, that the European Union can prosper, and that jobs and growth can continue. That is the way forward for success in Europe and for the success of this country in Europe.

[Baroness Ludford (LD)]

Does my noble friend agree that if, as we all hope, the eurozone is to get more jobs and growth, then in communicating with the Greek Government, we must urge structural reforms, including eliminating cronyism and corruption; that those are essential if we are to get, in the words of the new Finance Minister, a reformed, not a deformed, Greece; that fiscal responsibility and sustainability are essential; that spending more money without knowing where it is coming from—a fault not unknown in some parties in this country—is inadvisable; and that the UK can also offer the Greek Government the benefits of the progress that has been made in this country in tackling tax evasion in the last five years?

[Baroness Anelay of St Johns]

My Lords, I agree with every word that my noble friend said.