Bob Stewart
Main Page: Bob Stewart (Conservative - Beckenham)Department Debates - View all Bob Stewart's debates with the HM Treasury
(11 years, 8 months ago)
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Greg Clark
I am scandalised that the situation in Cyprus was allowed to happen in this way. It should not have happened in terms of the supervision of the banking system or the country’s fiscal performance. We will not be able to make an assessment of our guarantee to the armed services until we see the final shape of the negotiations, but when we do I will make sure that the House knows about it.
Bob Stewart (Beckenham) (Con)
Further to the question asked by the hon. Member for Rhondda (Chris Bryant), it is undoubtedly true that the Ministry of Defence has funding in the Bank of Cyprus for operational expenses on our bases, including pay. Are we likely to be scalped? In other words, is it likely that our Government will bail out the Government of Cyprus?
Greg Clark
It is too early to make that assessment, but we should know in the next few days and I will, of course, update the House when the situation is clear.