Currency Markets

Lord Pearson of Rannoch Excerpts

Wednesday 2nd February 2011 Lords Chamber

[Lord Sassoon]

I am grateful to the noble Lord and I thoroughly endorse his sentiments. This country has benefited greatly in recent years through the crisis by not being in the euro and by being able to develop our own policy responses. This coalition Government have no plans to enter the euro and are not making any preparations to do so at any future date.

[Lord Pearson of Rannoch]

Will the noble Lord go further and agree that, if the euro had never been invented, the currency markets and the world economy would not be in the trouble that they are?

[Lord Sassoon]

No, I would not want to go that far.