Douglas Carswell
Main Page: Douglas Carswell (Independent - Clacton)Department Debates - View all Douglas Carswell's debates with the HM Treasury
(13 years, 5 months ago)
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Mr Douglas Carswell (Clacton) (Con)
Most previous IMF rescue packages that I can think off have generally involved first a currency devaluation and secondly a debt default—or, should one prefer the term, a restructuring. Does the Minister agree that the IMF should be consistent with that approach in regard to Greece, and should not the IMF oversee a decoupling from the euro and a default on the debts, which would be consistent with its approach in other instances and rescue packages?
Mr Hoban
The IMF is the body best placed to decide the conditions to be attached to any rescue package that it puts forward. Strict conditionality is attached to the rescue package for Greece, including significant privatisations, tax collection reform and wider structural reforms. However, I think that this is a judgment for the IMF to make.