G8 and NATO Summits

Mark Lazarowicz Excerpts

Wednesday 23rd May 2012 Commons Chamber

[Mark Lazarowicz (Edinburgh North and Leith) (Lab/Co-op)]

May I echo the comments of those colleagues who expressed concern at the scale of the cuts and the retrenchment being forced on Greece—the ordinary people of Greece, not the Greek Government? While I agree with the Prime Minister that there need to be structural reforms and the changes he has suggested, would it not be better to have a bit more flexibility—a bit more European solidarity—rather than end up forcing Greece into a situation that leads not only to the collapse of that country, but immense consequences for the eurozone and the entire world economy?

[The Prime Minister]

Obviously, we are not a participant in the eurozone bail-out of Greece. We are supporting Greece through the IMF, however. The hon. Gentleman must consider this point: other European and eurozone countries, some of which are not particularly rich themselves, have had a series of agreements with Greece about what needs to be done and what money will be put in, and effectively he is asking them to go back repeatedly to their own Parliaments and say, “Well, I promised I wouldn’t ask for any more for Greece, but here I am again asking for more.” That is very challenging for them. As I have said, in the end it will be for the Greek people to decide, in their election, whether they want to stay in the euro and keep to the undertakings they have given, or whether they want to choose a different path. We in this country must be clear that we should support all and any contingency plans to make sure that either scenario can be safely delivered.