argyrotsipi/train-dataset huggingface dataset:
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): The sustainability of Greece’s debt payments is clearly a big issue. That is why it failed to meet the IMF payment last week and faces such a big challenge with the ECB repayment later this month. That is one of the challenges, but alongside it—and the IMF draws this to our attention as well—there must be some indication that the Greek Government can undertake the kind of reforms that will modernise the Greek economy, make sure it is a success and ensure a stream of tax revenues in the future. No one is pretending that it is easy, but that is the substance of the negotiation.
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
Jeremy Mark Quin (Conservative, Centre-right): I am thinking of what has been going on recently in China, in particular, and know that my right hon. Friend will be well aware that there are always dangers to the global economy. He has always been very alert to the deficiencies of governance within the eurozone. Does he believe that that governance has reformed sufficiently to prevent another similar crisis in the future in another eurozone state?
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): My hon. Friend is right to draw the House’s attention to some of the economic issues in China, but if we can stay in the western hemisphere for the purposes of this statement, the eurozone is a much better place than it was in 2012 to deal with any contagion from the Greek crisis. That is reflected in the fact that the bond spreads for the peripheral countries have not gone out today, because the ECB is prepared to do, in its words, "whatever it takes" in its outright monetary transactions policy. We have the European stability mechanism, which is, in other words, a sort of central bail-out fund. We have more of the machinery in place than we did in 2012, which is why we are not seeing quite as much contagion. I would make a general observation I have made before, however. I do not think people should underestimate the medium to long-term impact of a country leaving the euro and showing that it is possible to exit that currency.
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): The worst for the UK and the whole of Europe will be a completely disorderly situation over the next few weeks that has an impact on Europe’s financial system. As Britain is one of the most open economies in the world, that will impact on us. We saw the impact of the problems in the eurozone in 2012 and how they spilled over into the UK. That is the challenge of any financial crisis and it is a challenge for the UK as an open economy. That is why we are urging those on all sides to try to resolve the situation.
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
Edward Garnier (Conservative, Centre-right): The United Kingdom Exchequer will be exposed whether Greece stays in or leaves the euro. Will my right hon. Friend publish, if he can, the assumptions on which his assessment of those contingencies can be made?
Greece — House of Commons, 2015-07-06
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): The IMF has existed since it was created out of the Bretton Woods conference and, by definition, it exists to support countries that are in very real financial distress. That is its business: lending to countries that are having real problems managing their debts. It is important to say again, however, that Britain and other members of the world community that support the IMF have never lost money in this way, because the IMF holds contingency reserves. It is also the preferred creditor. Frankly, I do not think that the prospect of us losing money through the IMF is that strong.
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): We agree that a key issue is Greece’s ability to make its debt repayments. That is self-evidently the case because it failed to make a debt repayment to the IMF last week, and it also has to make a big debt repayment to the European Central Bank. I do not think it is right simply to pick out one piece of the IMF’s advice. It has also stated strongly that the Greek economy needs major structural reform, for example. We have to look at the IMF’s advice in the round, which is why it is such a valuable institution.
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
Craig Mackinlay (Conservative, Centre-right): I cannot help wondering whether the resignation of the Greek Finance Minister, Mr Varoufakis, might result in an opening for the former Chief Secretary to the Treasury, the right hon. Member for Birmingham, Hodge Hill (Liam Byrne). Does my right hon. Friend acknowledge the importance of a strong economy and a plan to eliminate the deficit? Put in simple terms, does he agree that we need to live within our means?
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): My hon. Friend is right to say that countries need to live within their means. As a Government, we have addressed that matter over the past five years, and I shall address it again in a couple of days’ time in the Budget. Mr Varoufakis has now resigned, and I shall be moving on to yet another Greek Finance Minister, but I doubt that the next one will have quite the dress style of the one we have just lost.
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): The risks stem from the fact that we are the world’s largest financial centre. We are also the global centre for the trading of the euro. We are a very open economy; on most measures, we are the most open and interconnected of all the world’s advanced economies. We are therefore affected by financial conditions in Europe. We saw that a few years ago, but we are in a much stronger place than we have been in the past because we have been paying down our very large deficit, because we have been strengthening our economy, because we have been recapitalising our banking system and making sure our banks are stronger, and because we have a much better system of regulation, in which the Bank of England is in charge of regulating the banks. Those are all steps that we have taken. I do not think anyone will be particularly surprised to hear that when we assemble in a couple of days to hear the Budget, we will hear the further measures needed to reduce that budget deficit and ensure that we fix the roof while the sun is shining.
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
Nadhim Zahawi (Conservative, Centre-right): Such external shocks do focus the mind. May I bring the Chancellor back closer to home? He has tough decisions to make on Wednesday. Has he had any representations from the Opposition Benches about where those cost savings should come, and support for the long-term economic plan?
Greece — House of Commons, 2015-07-06
Topic: International Affairs
John Simon Bercow (Conservative, Centre-right): That has very little to do with Greece. The hon. Gentleman has put his point on the record, but it is nothing to do with the statement today, to the details of which we ought to attend.
Greece — House of Commons, 2015-07-06
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): As I think we saw in the past week, some of those intemperate statements might have had the exact opposite effect to the one that they were intended to have, which reminds us not to interfere in other people’s democracies.
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
Stephen William Hammond (Conservative, Centre-right): Although the bond yields in Spain, Italy and Portugal rose only 12 basis points this morning, and despite what the eurozone said about whatever measures are necessary, the spread over German bonds suggests that there is still a real risk of contagion. Can the Chancellor confirm that thanks to his action, any measures taken by the eurozone will have a very limited impact on the UK financial system and limited cost for the UK taxpayer?
Greece — House of Commons, 2015-07-06
Topic: International Affairs
Philip Andrew Davies (Conservative, Centre-right): Is not the genesis of the problem that the EU allowed Greece to fiddle the figures in order to join the euro in the first place? Is not this blinkered pursuit of a political project of ever-closer union, rather than thinking through the economic consequences, the reason why we need to leave the European Union?
Greece — House of Commons, 2015-07-06
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): I know my hon. Friend has consistently held that view since he put it in his maiden speech, as I remember from listening to him many years ago. He identifies two challenges. One, fiddling the figures, we have addressed in this country by creating the Office for Budget Responsibility. When it comes to ever-closer union, that is precisely one of the issues that we are seeking to address in the renegotiation that we are conducting with the European Union.
Greece — House of Commons, 2015-07-06
Topic: Foreign Trade
George Gideon Oliver Osborne (Conservative, Centre-right): As I have said, Britain is not immune to the problems in the European economy. Some 50% of our exports go to the European Union, even if only a very small proportion of that goes to Greece, and we are a very large financial centre, so there would be an impact on our economy if the Greek crisis continued to deteriorate. That is why it is absolutely in our interests that there is a solution.
Greece — House of Commons, 2015-07-06
Topic: International Affairs
Julian Carlton Knight (Conservative, Centre-right): On a humanitarian point, considering that some international drug companies are currently holding off shipping to Greece as a result of the crisis, are there any early contingency plans in place, or discussions in the UK and the EU, for moving in medical aid should our friends suffer a social and economic collapse, the likes of which were seen when Argentina defaulted in 2000?
Greece — House of Commons, 2015-07-06
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): My hon. Friend is right to remind us that, although we are talking about a financial crisis, there is real human suffering in Greece, because the banking system has effectively shut down for many Greek citizens and businesses. There are reports of a shortage of medicines, which is why I drew attention in my statement to the Foreign Office’s advice—I was reiterating advice that has been in place—to take adequate supplies of prescription medicines, in particular. On his specific point, we have been talking with the British pharmaceutical companies, which have continued to supply the Greek market, and of course we stay in touch with them regularly.
Greece — House of Commons, 2015-07-06
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): The hon. Lady is perfectly right to draw to the House’s attention the very difficult situation that Greek families can find themselves in at the moment. That is all the more reason why we need to find a resolution. As I have said, the British pharmaceutical companies, which are important suppliers to the Greek medical system, are continuing to make those supplies, despite the imposition of capital controls. The whole question of what should happen if Greece falls out of the eurozone is something that I think we should return to if that eventually arises. Greece is one of this country’s oldest allies and of course we will always stand by it.
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
Robert Edward Jenrick (Conservative, Centre-right): The Chancellor has said that we must not underestimate the impact of these events on the UK economy. Whatever happens, the weak and stagnating economies of southern Europe, in particular, will continue to deteriorate. Looking towards the Budget and the months ahead, will my right hon. Friend use all his offices to pivot the UK economy towards growing and emerging economies elsewhere in the world, particularly as he did decisively with the UK’s leading role in the Asian Infrastructure Investment Bank?
Greece — House of Commons, 2015-07-06
Topic: Foreign Trade
George Gideon Oliver Osborne (Conservative, Centre-right): My hon. Friend makes a good point. British exports are too dependent on European markets and have been badly hit by weaknesses in the European economy over the past five years. That is why we have put a huge effort into trying to expand our trade and investment in fast-growing parts of the world, such as Asia. We want to be part of the new institutions there, such as the Asian Infrastructure Investment Bank. However, some southern European economies, such as Spain’s, have shown a remarkable turnaround, because they have taken difficult decisions, reformed their economies and are now reaping the benefits.
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
Gareth Alan Johnson (Conservative, Centre-right): Britain is quite rightly a good friend of Greece, but does the Chancellor agree that the situation there reminds us that in the end economic logic must prevail? Countries must live within their means, and failure to tackle debt, for example, can lead only to economic and financial disaster.
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): My hon. Friend makes a very good observation. Countries that fail to live within their means are exposed to the forces of the international bond markets and the flight of investor confidence. Five years ago, Britain had a budget deficit of over 10% of its national income. We have reduced that budget deficit, and this week we are going to take further steps to finish the job.
Greece — House of Commons, 2015-07-06
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): As I say, it is not for us to dictate to the Greek people or to the eurozone whether Greece should leave. I repeat: the elected Government of Greece say that they want to remain in the eurozone, so we should at least respect that intention, and we will see whether they can work with their partners to deliver it.
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
David Henry Rutley (Conservative, Centre-right): I welcome the steps that my right hon. Friend is taking to secure UK economic interests in the current difficult circumstances. Given that one of the challenges of the situation is the lack of a clear and orderly exit mechanism from the eurozone, are there any plans within the eurozone to address this issue after the short-term challenges facing Greece have been solved?
Greece — House of Commons, 2015-07-06
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): My hon. Friend makes a good observation. There is no straightforward mechanism for a country to exit the eurozone; it is not provided for in the treaties. Of course, if the eurozone wanted to propose a change to the treaties, then we would be very willing to sit down and discuss it.
Greece — House of Commons, 2015-07-06
Topic: Foreign Trade
Stephen Phillips (Conservative, Centre-right): My right hon. Friend will know that 90% of the world’s physical trade travels by sea. He may also know that Greek individuals and companies are the largest owners by tonnage in all sectors of the market. Any reduction in tonnage across the world is not only damaging to international trade but potentially highly inflationary. Has he given any consideration to this, and what discussions has he had with partners to ensure that sufficient shipping tonnage remains available for all international trade?
Greece — House of Commons, 2015-07-06
Topic: Transportation
George Gideon Oliver Osborne (Conservative, Centre-right): We have stayed in touch with all interested parties. Of course, the shipping industry is an incredibly important part of the Greek economy and the global economy, but we do not currently see a particular disruption to the shipping industry that we should be alarmed about.
Greece — House of Commons, 2015-07-06
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): It is fair to say that the travel companies have been behaving very well and co-operating with us very closely. At any one point in the month of July, there are 150,000 British citizens on holiday in Greece. The companies are therefore used to communicating on a large scale, and they are one of our main points of contact with holidaymakers. I say again that people travelling to Greece should check out the Foreign Office travel advice.
Greece — House of Commons, 2015-07-06
Topic: International Affairs
Alan Mak (Conservative, Centre-right): While the Greek people gave a clear answer in Sunday’s referendum, there is still a huge amount of concern across Europe that is worrying to working families in this country. Can my right hon. Friend assure me and my constituents that he is taking all necessary steps to protect their economic security?
Greece — House of Commons, 2015-07-06
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): I can assure my hon. Friend that we will go on delivering economic security for the working people of Britain. I will come back to the House on Wednesday to deliver a Budget that does just that.
Greece — House of Commons, 2015-07-06
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): My right hon. Friend the Home Secretary is working very actively on precisely this issue. My hon. Friend reminds us, at the end of this statement, that although this is of course a big issue for the eurozone, it is also an issue for the whole of Europe, including the United Kingdom. We want to see a resolution of this Greek crisis. Even at this eleventh hour, we want the eurozone and Greece to sit down and try to find a sustainable way forward.
Points of Order — House of Commons, 2015-07-06
Topic: Transportation
Charles Ashley Rupert Walker (Conservative, Centre-right): On a point of order, Mr Speaker. On Friday, I met 55 black cab drivers—fantastic men and women—at Cheshunt boxing club. They are very concerned about Transport for London’s unwillingness to enforce its regulations in respect of the business practices of Uber. It is difficult for me to bring those concerns to the Floor of the House because licensing is a devolved matter and is the responsibility of the Mayor of London. As a procedural expert, Mr Speaker, will you advise me on how I can bring the concerns of 55 black cab drivers to the Floor of the House of Commons so that their voice can be heard by this place?
Points of Order — House of Commons, 2015-07-06
Topic: Government Operations
John Simon Bercow (Conservative, Centre-right): My response to the hon. Gentleman, betraying a modicum of surprise if not complete stupefaction, is that providing Government Back-Bench members of the Committee is obviously a matter for the Government. A number of bodies within the House, including the House of Commons Commission, remain to be fully constituted. I make the point, in the gentlest terms, that it is important that we make progress on these matters before we rise for the summer recess. The Backbench Business Committee, upon which the hon. Gentleman served as a Back-Bench Member in the last Parliament and which he is now privileged to chair, is an extremely important Committee in the House’s deliberations, and I very much hope, and am confident, that it will be treated with the appropriate respect by Government Whips.
Scotland Bill — House of Commons, 2015-07-06
Topic: Government Operations
Jacob William Rees-Mogg (Conservative, Centre-right): Thank you, Mr Crausby—[Interruption.] I did not hear that interruption by the hon. Member for Na h-Eileanan an Iar (Mr MacNeil), which is always a great loss because his interventions are some of the most amusing that we ever hear. On this occasion, however, I am going to disagree with him. I do not like clause 31 at all; I think it is fundamentally misconceived. I have tabled a number of amendments, which I hope will improve it—if it is possible to make a silk purse out of sow’s ear Let me start by explaining why I do not like the clause in principle. I think there is a danger that it is attempting to give away something that does not actually belong to the state. The Crown Estates belong to the sovereign and are given in trust to the Government at the beginning of every reign. This started at the beginning of the reign of George III and has been recommitted by every monarch subsequently. However, the Crown Estates must return entire to a new sovereign at the beginning of a new reign. It is not possible—it is not right; it is not proper—for the Government to give away the Crown Estates or to put them in such a state that an incoming sovereign could not take them back in their entirety. I therefore have concerns about the underlying principle of clause 31 in that it is seeking to divide the Crown Estates, which ought not to be divisible because of the unity they are required to have at the beginning of each reign I also do not like it symbolically because, although I am very sympathetic to the demands of the SNP for more government in Scotland and for more rights for the Scottish Parliament, I think the Crown is more important than the union of Parliaments.
Scotland Bill — House of Commons, 2015-07-06
Topic: International Affairs
Jacob William Rees-Mogg (Conservative, Centre-right): The hon. Gentleman has been more helpful to me than he may have realised. I think that the symbolic importance of this division is that it is symbolic of independence for Scotland rather than further devolution. I think that the indivisibility of the Crown in one nation is such that the Crown Estate ought not to be divided.
Scotland Bill — House of Commons, 2015-07-06
Topic: International Affairs
Jacob William Rees-Mogg (Conservative, Centre-right): I am grateful to my right hon. and learned Friend, who I think is absolutely spot on. The indivisibility of the Crown within the United Kingdom is central to the Unionist case, and I think that if a Unionist Government are willing to divide the Crown, that is a very dangerous step. I would rather give the Scottish Parliament other powers—some of which are the subject of other amendments—than give it this very important power relating to the Crown, which, as has already been pointed out, has been indivisible for longer than the Parliaments have been united. It brought the two countries together, and that was then established firmly in law.
Scotland Bill — House of Commons, 2015-07-06
Topic: International Affairs
Jacob William Rees-Mogg (Conservative, Centre-right): My assumption is that they were devolved to the Government of the Republic of Ireland, which is a perfectly reasonable thing to do when one is abolishing the monarchy. If SNP Members were, in fact, closet republicans—which, given the other arguments that we have heard recently, I do not think they are—it would be perfectly rational for them to argue that the estate should be confiscated from the Crown and should go to an independent Scotland. However, that is not the argument that we are having today. Today, there seems to be broad acceptance in the House that the monarchy should remain part of the Scottish settlement—as well as the settlement for the rest of the United Kingdom—come what may, even if Scotland were to become independent.