Eurozone Crisis
Debate between John Baron and David Nuttall(12 years, 5 months ago)
Westminster HallRead Full debate Read Hansard Text Read Debate Ministerial Extracts
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Mr Baron
My hon. Friend is absolutely right. The IMF is an integral part of the rescue package for the eurozone, but that is something that the Government are, at least publicly, not willing to acknowledge, which is very wrong indeed.
I question why the IMF is getting involved in these bail-outs. The eurozone is a currency union. If a state within the United States got into trouble, the IMF would not be expected to ride to the rescue. The same should be true of the eurozone. I contend that Greece is not economically sovereign: it has no central bank, it cannot set interest rates, it has no currency, and it cannot devalue. I would go so far as to question whether Greece is even politically sovereign. At least in the United States, the people can elect the governor of individual states. That is not happening in Greece and Italy. In some cases, we do not even have a Government.
Mr David Nuttall (Bury North) (Con)
My hon. Friend refers to the possibility of an American state finding itself in financial difficulties. Of course that has already happened in California. Can he confirm that, in those circumstances, the IMF was not involved and was not able to contribute?
National Referendum on the European Union
Debate between John Baron and David Nuttall(12 years, 6 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Nuttall
I am sure that the Prime Minister has many important duties to attend to.
Mr John Baron (Basildon and Billericay) (Con)
I congratulate my hon. Friend on securing this debate. The key point is that what this country joined was, in essence, a free trade area, and that since that time we have seen the continual salami-slicing of our sovereignty and the British people have still not yet been consulted on that change. The Government may talk about referendum locks, but that is tilting at windmills, given that no treaty is on the horizon and that key competences and powers are being transferred in the meantime. It is time to consult the people.
Mr Nuttall
The European Union Act 2011 deals with the future, but this motion deals with where we are today. People already feel that too many powers have been passed on. At a time when people pick up their phones and spend their own money voting week in, week out to keep their favourite contestants on programmes such as “Strictly Come Dancing” and “The X Factor”, many will be baffled as to why the Government and all those who oppose this motion seem keen to prevent them from having their chance to vote on Britain’s future relationship with the European Union.