Question to the HM Treasury:

To ask Her Majesty’s Government what estimate they have made of the cost to the public purse of (1) arrangements made, and (2) proposed arrangements, to deal with the Greek financial crisis.

The Government has secured a deal that protects UK taxpayers from any risk from financing euro area bailouts now and in the future. This deal gives legal force to the commitment secured in 2010 that UK taxpayers would not be drawn into a euro area bailout. Under the European Financial Stability Mechanism (EFSM) short term financing agreement concluded on Friday 17 July, Greece’s IMF arrears have also been cleared.