John Baron MP questions Chancellor over UK’s liability in Eurozone bailout

MP does not get assurance about future liabilities

 Today in the House of Commons, the Chancellor of the Exchequer made a statement about the recent negotiations concerning the Eurozone debt crisis and Britain’s role in helping to resolve the matter. John Baron MP questioned the Chancellor about Britain’s possible future liabilities should there be a further downward leg in the crisis.

 John asked:

 “I do not share the optimism that the latest package of measures will do the job, in part because they do not address the structural causes of the crisis which is a lack of competitiveness. Can the Chancellor assure the country that if there is a further downward leg in this crisis then the UK would have no further financial liability in helping to solve the crisis whether through the IMF or not.”

 The Chancellor talked of Britain’s present limited liability but did not answer the question about future liabilities should the crisis continue.

 John said afterwards:

 “This is a Eurozone crisis created by the Eurozone itself. We need to be on our guard that we are not financially liable for any future rescue packages. At a time when British families are tightening their belts, we need to monitor carefully the extent to which our money is being used to try to correct the folly of others.”