Eurozone Crisis Debate

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Department: HM Treasury

Lord Lancaster of Kimbolton

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Oral Answers to Questions

Eurozone Crisis

Lord Lancaster of Kimbolton Excerpts

Business of the House
Thursday 3rd November 2011

(12 years, 7 months ago)

Commons Chamber
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Urgent Questions are proposed each morning by backbench MPs, and up to two may be selected each day by the Speaker. Chosen Urgent Questions are announced 30 minutes before Parliament sits each day.

Each Urgent Question requires a Government Minister to give a response on the debate topic.

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Mark Hoban Portrait Mr Hoban
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I do not think anyone in this House is suggesting that we interfere in the decisions to be made by the Greeks.

Lord Lancaster of Kimbolton Portrait Mark Lancaster (Milton Keynes North) (Con)
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What would be the consequences of the UK failing to pay its IMF subscription?

Mark Hoban Portrait Mr Hoban
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We would lose our seat on the IMF board; we would lose credibility in international economic debates; and we would lose our influence on measures to solve global economic problems. We would become marginalised—rather like Labour Members when it comes to their contributions to economic debates.

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