Ian Swales
Main Page: Ian Swales (Liberal Democrat - Redcar)Department Debates - View all Ian Swales's debates with the HM Treasury
(13 years ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Osborne
We keep under close surveillance not only British banks but the branches of Cypriot banks and the subsidiaries of other banks operating here in the UK. So we are closely monitoring the Cypriot banks, as we do with the other eurozone banks in Britain.
Ian Swales (Redcar) (LD)
Has the Chancellor seen any credible figures that show that Greece can solve its long-term deficit and debt problems and still remain in the eurozone?
Mr Osborne
Yes, I think that there are plenty of things that Greece can do, which the Greek Government have already identified, to make itself much more competitive. It is coming from a long way behind, but it can do quite a lot in regard to its labour market, its pension ages, its tax rates and the like that would make it considerably more competitive than it is today.