Lord Higgins
Main Page: Lord Higgins (Conservative - Life peer)Department Debates - View all Lord Higgins's debates with the Leader of the House
(9 years, 6 months ago)
Lords ChamberI think I have already made it clear that because President Putin has not delivered on his words and we must judge him on his actions, which so far have not met his words, we are strong and united within the European Union and alongside America in our demands of him and in making sure that he meets the terms of the Minsk agreement. We will continue to apply sanctions, which will stay in place until he meets the terms of that agreement.
My Lords, I welcome the reference in the Statement to the Government’s eurozone contingency planning. Could she perhaps elaborate on that? Is it not apparent that despite all the bailouts, concessions and negotiations and so on, there is no way in which Greece will become competitive at the present exchange rate and will at the end of the day need to leave the eurozone? In those circumstances, it is crucial that it should be done in an orderly way, which will be a very difficult task involving exchange controls and so on. It is essential that our Government, because we have an interest in this issue, co-operate to make sure that there are contingency plans for an arrangement whereby Greece can withdraw on an orderly basis.
I do not share my noble friend’s view that Greece will leave the eurozone. Certainly all efforts are being made by the eurozone’s other members to ensure that Greece remains in the eurozone. It is in everyone’s interests—those of the countries that are part of the eurozone and those of the United Kingdom—that the eurozone continues to operate securely. My right honourable friend the Prime Minister held contingency planning meetings with senior officials none the less because that is the right and prudent action for him to take. We are working on the basis that the eurozone will continue.