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Economic and Monetary Union

Treasury written question – answered on 15th October 2012.

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Photo of Guy Opperman Guy Opperman Conservative, Hexham

To ask the Chancellor of the Exchequer what assessment he has made of the effect of the financial situation in the eurozone on the UK economy.

Photo of Greg Clark Greg Clark The Financial Secretary to the Treasury

holding answer 18 September 2012

As set out in Budget 2012, the euro area crisis poses a significant downside risk to the UK. According to the OECD:

“economies both inside and outside the OECD area have been adversely affected by the euro area crisis through trade and confidence channels.”

As the Prime Minister said on 17 May, whatever path the euro area takes the Government are prepared to do:

“whatever is necessary to protect this country and secure our economy and financial system.”

Does this answer the above question?

Yes0 people think so

No2 people think not

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