Michael Connarty
Main Page: Michael Connarty (Labour - Linlithgow and East Falkirk)Department Debates - View all Michael Connarty's debates with the HM Treasury
(13 years ago)
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Michael Connarty (Linlithgow and East Falkirk) (Lab)
It is obvious that, like many other Members in the Chamber, the Minister has not read the Lisbon treaty, because the hon. Member for Orpington (Joseph Johnson) is right. I give way to no one in my support for the IMF—as is clear from the way in which I voted—and my support for the recapitalisation of the banks, but the reality is, surely, that the ordinary people of Greece will go through a massive amount of pain, whereas the bankers, both here and there, will walk off with the money. We are looking after the banks, not the people, so is it really surprising that the Greek people may want to reject the proposal that the Government were involved in placing on their backs?
Mr Hoban
We all recognise that difficult decisions are involved in the tackling of fiscal deficits, and those decisions must be made. It is owing to this Government’s actions that our interest rates are similar to those of Germany, while our deficit is at the same level as that of Greece.