G20

Julian Brazier Excerpts

Monday 7th November 2011 Commons Chamber

[The Prime Minister]

We have argued very consistently that part of any solution has to be a very decisive writing down of Greek debt, because it obviously cannot afford the level of debt that it currently has. That is the plan that it is being offered. Some would argue that even that is not enough, and that is my hon. Friend’s position, but our view has always been that unless the debts are written down significantly, there will not be a proper solution.

[Mr Julian Brazier (Canterbury) (Con)]

My right hon. Friend has rightly argued that fixing the eurozone is a matter for eurozone countries. May I welcome the fact that he has announced that we are making contingency plans for the possibility of that failing?

[The Prime Minister]

I am grateful to my hon. Friend. As I said, it is difficult to say more about it in the House, but I will discuss with Treasury Ministers whether we can say a little bit more. If Members have contributions that they want to make or concerns about elements of any contingency plan, which would have to be very wide ranging and cover all sorts of different eventualities, they should talk to Treasury Ministers.