Eurozone (Contingency Plans) Debate

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Department: HM Treasury

Eurozone (Contingency Plans)

Peter Bone Excerpts
Monday 20th June 2011

(12 years, 11 months ago)

Commons Chamber
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Mark Hoban Portrait Mr Hoban
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When the Greek Government agreed last year’s debt bail-out package, it was assumed that they would be able to re-enter the markets in the spring of next year. That is clearly not the case, given current market pressures, which is why the Greek Government had to seek a second round of refinancing. However, they still need to take action to improve Greece’s competitiveness, reduce the size of the state sector through further privatisation and improve taxation, to get the economy back on track.

Peter Bone Portrait Mr Peter Bone (Wellingborough) (Con)
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I congratulate the hon. Member for Birmingham, Edgbaston (Ms Stuart) on securing this urgent question, and I say gently to the Minister that it is a shame that he did not volunteer to make a statement on this matter first. What is Her Majesty’s view on whether the euro can survive in its current format?