Eurozone (Contingency Plans)

Part of Oral Answers to Questions — Communities and Local Government – in the House of Commons at 3:32 pm on 20 June 2011.

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Photo of Richard Shepherd Richard Shepherd Conservative, Aldridge-Brownhills 3:32, 20 June 2011

The eurozone was never an optimal currency zone. It is predicated on a treaty arrangement that calls it irrevocable and irreversible. We should never have accepted the hubris contained in those phrases, which brought about the passage of the Maastricht Bill and the current situation. This Government and this country should not be involved, and it would be helpful if we said what everyone in the press now says: this arrangement cannot survive in its current form. The hubris of those politicians who led the poor Greeks and all those who believed in this arrangement should be exposed as such.