Lord De Mauley
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(12 years, 6 months ago)
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Lord De Mauley
My Lords, there is plenty of time. Perhaps we may hear from the noble Lord, Lord Brooke.
Lord Brooke of Alverthorpe
I am grateful and I will be brief. I should like further clarification on the position of the IMF, which has been significantly involved with these negotiations. As I understand it, the IMF is already subscribing to three country adjustment programmes and will continue to do so. It has indicated that it may be required to look for more money from members of the IMF to put more cash into those programmes. I think that I am correct in my understanding of the Minister on that. If that is the case, we are therefore putting more money into the eurozone venture.