Kelvin Hopkins
Main Page: Kelvin Hopkins (Independent - Luton North)Department Debates - View all Kelvin Hopkins's debates with the HM Treasury
(11 years, 2 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Greg Clark
My hon. Friend raises an important point. I have made a commitment to the House to provide further statements once we have more detailed information on how all these arrangements are likely to apply.
Kelvin Hopkins (Luton North) (Lab)
This is clearly deeply worrying for the people of Cyprus, and we have to condemn what is being done to them, but it is also worrying for millions of working people across the whole eurozone. Is this not just the beginning of a situation in which Cyprus and other countries withdraw from the eurozone and, indeed, the euro itself may be wound up? Are the Treasury, the Government and the Bank of England making preparations for that eventuality?
Greg Clark
The Treasury and the Government always make contingency plans for many eventualities. It is important to reflect on the statements made by the German Government and by the ECB that the situation in Cyprus is very dissimilar to that prevailing in other countries. It would not be right to draw a parallel between what is happening in Cyprus and the situation that exists elsewhere.