Loans to Ireland Bill

Debate between Alan Johnson and Philip Hollobone
Wednesday 15th December 2010

(14 years, 10 months ago)

Commons Chamber
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Alan Johnson Portrait Alan Johnson
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We have the €60 billion fund, about which the hon. Member for Dover (Charlie Elphicke) intervened, and we have a second fund of €440 billion. I am simply pointing out—the public deserve to know this—that only 4% is coming from the larger amount and 37% from the smaller amount. I am curious about that, and we need to understand the logic of it.

Philip Hollobone Portrait Mr Hollobone
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Is the shadow Chancellor’s point that the European Central Bank is keeping these funds to rescue Portugal, Spain and perhaps Italy in due course?

Alan Johnson Portrait Alan Johnson
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Maybe.

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