Eurozone Crisis

Part of Oral Answers to Questions — Leader of the House – in the House of Commons at 11:34 am on 3 November 2011.

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Photo of Mark Hoban Mark Hoban The Financial Secretary to the Treasury 11:34, 3 November 2011

My right hon. Friend will recognise that the agreement that was reached in the European Council last week and then later in the summit of eurozone Governments was on what size the bail-out for Greece should be and what the ring fence should be around that. We welcome last week’s announcement. What is very clear, however, is that more work needs to be done on those questions—particularly what the size of the overdraft will be and who will pay for it. We need eurozone leaders to move that forward as quickly as possible.