Campbell warns of Greeks seeking gifts

DUP MP Gregory Campbell has asked for an assurance from the Chancellor that the UK taxpayer won’t contribute towards a second bail-out of Greece.
By The Newsroom
Published 22nd Oct 2011, 13:17 BST

The East Londonderry MP asked if the Chancellor would take steps to ensure that the Government will provide no additional public sector support to Greece in the event of it seeking further financial assistance.

Financial Secretary to the Treasury Mark Hoban - replying on the Chancellor’s behalf - said assurances had been given that no money from the European Financial Stability Mechanism (EFSM) would be used for a second Greek bail-out.

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Mr Hoban stated: “The international financial assistance package for Greece agreed in May 2010 included a 30 billion euro loan from the international Monetary Fund and 80 billion euro of bilateral loans from euro area member states. “There was no contribution either from the EU Budget or from the European Financial Stabilisation Mechanism, which is backed by the EU Budget.

“The Prime Minister secured agreement at the June European Council that the EU-wide EFSM would not be used in a second assistance package for Greece.”

Related topics:Gregory CampbellDUPGovernment