Greece

Wendy Morton Excerpts

Monday 6th July 2015 Commons Chamber

[Mr Osborne]

I do not accept that characterisation of the managing director; I think she has played a very important and constructive role in this crisis. The IMF exists to lend to countries that are by definition in some distress, but it, too, has rules, which have been established for many decades. One of them is that countries in arrears to the IMF cannot receive payments, and unfortunately last week Greece went into arrears.

[Wendy Morton (Aldridge-Brownhills) (Con)]

Given this uncertainty and the popularity of Greece and the Greek islands as we approach the main holiday season of the year, what reassurances can the Chancellor give me that I can pass on to my constituents that we will continue to give updated advice and information?

[Mr Osborne]

All the reports we have back from our consular staff and the various travel companies is that people are enjoying their holidays in Greece, are not seeing the disruptions, and are able to use their credit cards and the like, so we have not changed our travel advice to say people should not travel to Greece. What we have said, however, is that people should anticipate unforeseen—or, indeed, potentially foreseen—circumstances and make sure they take more cash with them than they might otherwise have done, so they are covered for different eventualities. If they do that, they can enjoy their holiday, and make a contribution to the Greek economy, which is very important, but they should take cash with them.