Lord Lawson of Blaby
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Eurozone
Lord Lawson of Blaby Excerpts(12 years ago)
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Lord Sassoon
My Lords, as I explained, there are no requests for further assistance on the table at the moment, so it would be entirely hypothetical to discuss what our further commitments might be. However, as I have said, as of July this year, the permanent European stability mechanism comes in. The UK is not party to the agreement to establish that mechanism and there will be no further commitments from the UK under the European financial stability mechanism from July this year. The IMF does not support the eurozone or any other currency union. It is there to support individual countries, and any assistance is considered country by country on the merits of each case.
Lord Lawson of Blaby
My Lords, my noble friend the Minister is causing some of us a little concern. Why did he not answer the Question on the Order Paper with a simple no?
Lord Sassoon
Because it is a complicated Question, which deserved a somewhat fuller Answer.