Eurozone Crisis Debate

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Department: HM Treasury

Eurozone Crisis

Nigel Mills Excerpts
Thursday 27th October 2011

(13 years ago)

Commons Chamber
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George Osborne Portrait Mr Osborne
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I completely agree with my hon. Friend. It is a remarkable position for the Labour leader to take when he says:

“I don’t think Brussels has too much power.”

What sort of negotiation would it be if he were in charge?

Nigel Mills Portrait Nigel Mills (Amber Valley) (Con)
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I, too, welcome the Chancellor’s efforts to protect British taxpayers from further bail-outs. I also welcome his statement that the International Monetary Fund exists to support countries that cannot support themselves, but I reiterate my concern that the IMF does not end up supporting a currency if a country chooses not to take the right action.

George Osborne Portrait Mr Osborne
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My hon. Friend has made a good point. The IMF exists to support countries, and supports 53 at present. It does not exist to support currencies.