Eurozone Crisis

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

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

I think we would find that our credit rating would be under pressure, as Standard & Poor’s suggested in its report last month, and we know that when credit ratings are downgraded, the natural consequence is higher interest rates, which hits families and businesses and makes recovery harder to achieve.