MP suggests such a mantra creates uncertainty and hits confidence and investment
Today in the House of Commons, during a Statement by the Prime Minister on the G8 summit, John Baron MP questioned the Prime Minister regarding the evolving Eurozone crisis.
John asked:
“Without the much needed supply side reforms in the Eurozone, I suggest the day of reckoning is fast approaching. Given that there have been 80 plus cases since the Second World War of countries leaving currency blocs, and in the vast majority of those cases the countries have benefitted, is it not now time to stop talking about the need to save the Euro as this is creating uncertainty, and hitting confidence and investment in the country?”
David Cameron suggested the Eurozone was different to other currency blocs.
John said afterwards:
“The markets know full well that, without root and branch reforms to create greater competitiveness, all other political initiatives and summits are nothing more than sticking plasters. The Government needs to stop talking about the dire consequences of the Euro failing, and more about the opportunities in the faster growing economies of the world.”
Ends
Word Count: 199
Date: 23rd May 2012
Notes to Editors
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