European Union: Debts

Lord Soley Excerpts

Tuesday 8th June 2010 Lords Chamber

[Lord De Mauley]

My Lords, a package of assistance was agreed in early May for Greece, consisting of €110 billion over three years and comprising an IMF standby arrangement of €30 billion and an intergovernmental package of bilateral loans from euro-area member states of €80 billion. This is, of course, subject to strict conditions. I think noble Lords would agree that it is not for me to speculate on what might have been.

[Lord Soley]

Will the Minister confirm that neither party of the coalition would support any support for the euro?

[Lord De Mauley]

My Lords, so far as I am aware, despite the best efforts of noble Lords opposite, there is a quite remarkable degree of agreement between the two parties of the coalition.