Chris Leslie
Main Page: Chris Leslie (The Independent Group for Change - Nottingham East)Department Debates - View all Chris Leslie's debates with the HM Treasury
(13 years, 1 month ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Osborne
I can confirm that we have lost our veto on financial assistance. That was one of the issues with the so-called EFSM—the European financial stabilisation mechanism—which was the EU27 bail-out fund, which we joined a couple of days before this Government were created. Getting us out of it—[Interruption.] The former Chancellor’s memoirs are very clear about this.
Mr Osborne
The former Chancellor wrote them! What I would say to my hon. Friend is that we did not have the power to veto disbursements from the EFSM, so we had to negotiate our way out of it. That is precisely what the British Prime Minister has done.