European Union: Debts

Lord Higgins Excerpts

Tuesday 8th June 2010 Lords Chamber

[Lord De Mauley]

I cannot disagree with the noble Lord.

[Lord Higgins]

My Lords, given the strain that the weak members of the European monetary union are putting on the system, would it not be wise to consider possible contingency plans which could be used if one of them wished to withdraw?

[Lord De Mauley]

My Lords, these are early days. Several countries have announced new packages of fiscal recovery measures in recent weeks. I am sure that my noble friend will agree that it would be inappropriate for me to comment on individual member states or to speculate on what might or might not happen.