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EU: Financial Assistance to Member States

House of Lords written question – answered on 7th July 2011.

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Photo of Lord Myners Lord Myners Labour

To ask Her Majesty's Government whether they will support the proposals made by the Government of France on 24 June to provide new finance to Greece via an extension of the Vienna Protocol, and simultaneously to recapitalise the French banking system; and whether they have entered into discussions with United Kingdom banks to seek their agreement to amend the terms of existing loan agreements to the Hellenic Republic.

Photo of Lord Sassoon Lord Sassoon The Commercial Secretary to the Treasury

The Government are aware that private sector financial institutions are considering a range of proposals that are designed to facilitate private sector involvement in a future package of financial assistance to Greece. It would not be appropriate for the Government to provide a running commentary on these. As members of the International Monetary Fund, we will consider any future package of assistance in the round, in the usual way.

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