argyrotsipi/train-dataset huggingface dataset:
Tunisia, and European Council — House of Commons, 2015-06-29
Topic: International Affairs
David William Donald Cameron (Conservative, Centre-right): Let me join in the tributes to Bruce Wilkinson and the way that his family have handled this terrible tragedy. My hon. Friend’s point about Islamic State is well made. He spoke about making sure that we continue with the help and counselling. Part of that will be in how we commemorate and remember these dreadful events. We are just coming up to the anniversary of 7/7, which is a reminder of how important it is that we mark these things properly, because relatives go on mourning for years and decades into the future.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): It is fair to say that the IMF has provided considerable support to both Ukraine and Greece. Indeed, the combined support that has been provided by the eurozone and the IMF is considerably greater to Greece. The discussion was the extension of the current programme, and of a potential new programme. Those negotiations were under way, but the creditors in this case were demanding certain conditions. That is what happens when a country is part of the euro, which is why I do not recommend our joining it.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
Kenneth Clarke (Conservative, Centre-right): I am always quietly inconspicuous in this Chamber, Mr Speaker. Will my right hon. Friend confirm that the IMF has always made advances to countries in financial crises conditional on a programme of reform aimed at minimising the effect on creditors and, above all, on restoring a competitive and effective economy to prepare for a healthier future? It would be quite irresponsible for the IMF or the European Central Bank to abandon that approach at the moment. The best outcome would be for the Greeks to vote yes in the referendum. The one thing my right hon. Friend has not touched on is the great hardship that could be caused to the Greek people if they vote no and their economy goes into total collapse. Are there any discussions going on about the way in which the friends of Greece can mitigate those consequence for the ordinary Greek population? There is no quarrel in this House with Greece or the ordinary people of Greece who are not responsible for the mismanagement by their Government.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): My right hon. and learned Friend is right to remind us that the people of Greece have paid a very high price for the mismanagement of their economy by previous Greek politicians and Greek Governments. Of course it is now a matter for the Greek people to decide their future, and we should respect that. I made it clear in my statement that most people now consider this referendum as one on whether Greece leaves the euro. Of course there are considerable consequences of taking that step, but I do not think we should be telling the people of Greece how to vote. It is for the people of Greece to make that decision, but they should be aware of the consequences. That is the broad approach that we shall take. The discussion of what would happen if Greece were to leave the euro should probably happen at a later date, but there will clearly be issues over the support that the family of western nations can provide to that country.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): I thank the hon. Gentleman for his questions. I should say that this afternoon we have been in touch with the devolved Administrations in the United Kingdom to ensure that they are aware of the plans and to work with them on any issues faced by them and by citizens and businesses in Scotland, Wales and Northern Ireland The Bank of England and the Prudential Regulation Authority are, of course, monitoring extremely closely the situation with the four Greek branches in the UK and the subsidiary, although, as I have said, the subsidiary is protected by our compensation scheme and supervised by the Bank of England. There is, of course, advice available to businesses with export links to Greece, but there are capital controls in place so there are restrictions on the settlement of payments being transferred out of the Greek banking system. Businesses should be aware of that. Cash flow problems can be addressed by contacting HMRC As for the IMF, I do not want to prejudge the decisions of the managing director or the board. We will just have to wait and see what unfolds in the coming days. It is fair to say that the space for substantive negotiations before the referendum is pretty limited. Of course, we shall see what the outcome of the referendum is. I would merely observe that many of the senior figures in the eurozone have said that if Greece were to vote yes, negotiations would begin to try to find a satisfactory outcome for the Greek financial situation.
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
Anne Margaret Main (Conservative, Centre-right): Greece, a small country of 5 million people, swept in with Syriza a Government promising to abolish austerity. Does my right hon. Friend think that there are any lessons to learn for a country much nearer to home with a population of about 5 million people that swept in a Government promising to abolish austerity?
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): The public will draw their own conclusions about that. Different countries are obviously different, but western democracies need to ensure that their welfare systems are affordable, their economies are competitive and their businesses can export and create jobs. That is a challenge for every single western democracy.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): I do not think anyone would presume to tell the Greek nation of all nations how to conduct a democracy. That is why I made it very clear in my statement that we respect the right of the Greek people to make decisions about their own future in an open and democratic way, and we do not presume to give them advice on that, but of course they need to be aware of all the consequences.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
Christopher Robert Chope (Conservative, Centre-right): Does my right hon. Friend agree that if the Greek people wish to regain their sovereignty and once again become masters of their own economic destiny, they should be arguing to leave the eurozone and set up the drachma once again?
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): As I have already said, it is for the Greek people to make this decision, but my hon. Friend’s broader observations about the constraints of being in the euro are one of the reasons why he and I agree that Britain was right not to join and should not join in the future.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): I said precisely that a few moments ago. We respect the decisions that the Greek people have to take. We also understand the real economic hardship that has been experienced by the Greek people because of the mistakes that previous Greek Governments have made, and the Greek people have borne the brunt of that. Whatever the outcome of the referendum and whatever the next few months hold for Greece, it is a very important part of the European family of nations. Greece has been an important ally of the United Kingdom for very many years and we will continue to stand alongside the Greek people during this difficult time.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): Just as I do not particularly like other nations telling the British nation how to conduct its own affairs, I do not think we should go around lecturing others. They have chosen to form a currency; we chose not to join it. The point I have made is that there is a remorseless logic to being part of the eurozone that leads to greater political, fiscal, financial and economic integration. That is why I do not want to be part of it. I have also made the point that that integration, although necessary to secure the stability of the euro, has an impact on the UK as a large non-euro member. That is one of the issues that should be addressed in the renegotiation. We would not be having a renegotiation if we had not had a Conservative Government elected and able to put this issue to the British people in a referendum, and quite a lot of us in this House worked to achieve that Conservative Government.
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): As I have said, Britain is much better placed than it was a few years ago; our banking system is much better capitalised. Of course, the eurozone and the European Central Bank have previously taken steps to try to contain the contagion, for example by setting up the outright monetary transactions programme and the European stability mechanism—in other words, various bail-out mechanisms that came into operation during Spain’s financial problems a couple of years ago—but I was very clear in my statement that a Greek exit from the euro would have an impact on Europe’s financial system and knock-on effects for the UK. I do not think that anyone should underestimate the challenge of establishing that a country could leave the euro. Those are all issues that we need to be alert to in the months ahead.
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): I was making the observation that the UK is far better prepared than it was five years ago, when we had a budget deficit of over 10% and an undercapitalised banking system—something I was well aware of, because the Greek crisis had its first big flare-up a few days before I became Chancellor of the Exchequer. We are in a better position, but I do not pretend that the UK will be immune from the impact of the financial problems in the eurozone.
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
Paul Stuart Scully (Conservative, Centre-right): The events in Greece are a stark reminder of the uncertainty that remains in the global economy. Can my right hon. Friend reassure my constituents that the Government’s long-term economic plan factors in and faces up to that uncertainty, rather than trying to ignore it?
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): I can give that reassurance to the residents of Sutton and Cheam, and indeed of the rest of the UK. This country’s budget deficit remains too large. We have taken important steps to strengthen our banking system, and now we must ensure that it remains competitive and healthy, which is why we are taking steps to exit from Government shareholdings. Of course, in the Budget and in the spending review this autumn we will take further steps to deal with our budget deficit and run a surplus in normal times so that we are better prepared for whatever shocks the world throws at us.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): It is fair to say that Greece’s membership of the European Union, as opposed to membership of the eurozone, was an important step in that country’s transition from fascist dictatorship to democracy and in entrenching that democracy, and I think that view is broadly held by the Greek people, whatever their views about the current financial situation or their membership of the euro. I repeat that whatever happens we stand alongside Greece as an important member of the family of European nations.
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
Stewart Jackson (Conservative, Centre-right): Almost 20 years ago a number of us predicted the disastrous consequences that would be visited on small countries as a result of monetary convergence and the single currency, and so it has come to pass this week with Greece, which it seems is being smashed on the altar of German monetary policy. With that in mind, will the Chancellor give the House an undertaking that proposals for further future financial convergence—a single EU-wide corporation tax rate, which would damage the British economy—will never see the light of day?
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): The decision to which the hon. Gentleman refers was taken yesterday by the European Central Bank, and it was a decision not to expand the amount of liquidity assistance provided; it did not cancel the existing liquidity assistance. We are not in the eurozone, of course, so we are not part of the European Central Bank, but there have been close discussions and the European Central Bank is keeping the Bank of England directly informed about the decisions it is making.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
Simon James Hoare (Conservative, Centre-right): My right hon. Friend will remember the back story to the Don Pacifico incident. What advice will he, the Foreign Secretary and the Foreign Office be providing to British citizens residing in Greece or visiting Greece during the holiday season about their physical safety and security, because, whatever the result of the referendum, there could be periods of intense unrest across the country?
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
John Charles Baron (Conservative, Centre-right): Greece reminds us all that one can defy economic logic for only so long. Given that eurozone growth rates are well below global growth rates—in the economic slow lane—and that unemployment rates are that much higher, largely caused by the drive towards economic and political union, what cast-iron safeguards are we negotiating to ensure that we retain our sovereignty such that we do not get drawn into this ever-closer union?
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): As my hon. Friend well knows—the Prime Minister was explaining this at the Dispatch Box just an hour or so ago—one of the issues we are seeking to address in our renegotiation is Britain’s involvement in ever-closer union, which is not something that the British people are very comfortable with. I would make the broader observation, which relates both to the UK and to members of the eurozone, that we have to make the European continent, ourselves included, a competitive place to do business. We have to have businesses that can export around the world. We have to be able to make sure that jobs are being created in the European Union. A very important strand of what we are seeking to change in our relationship with the European Union is to make the EU more competitive for all its citizens, Greek as well as British.
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): I make the broad observation that ultimately countries have to live within their means; we see what happens if they do not. On the Greek debt situation and the burden of Greek debt, eurozone members were in discussions about the terms of debt repayments and the like, but those negotiations were broken off on Saturday because of the unexpected announcement by the Greek Prime Minister on Friday.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
Bernard Christison Jenkin (Conservative, Centre-right): Does not the eurozone states effectively endorsing a plan for fiscal and banking union, as proposed by the five eurozone Presidents, regardless of the treaty that the Prime Minister vetoed in December 2012, underline the urgency for the Chancellor to deliver on the dilemma that he outlined in a speech on 15 January 2014, when he said: "The…Treaties are not fit for purpose." He also said: "If we cannot protect the collective interests of non-eurozone member states then they"— meaning we— "will have to choose between joining the euro, which the UK will not do, or leaving the EU." Can he explain why those words have been taken down from the Downing Street website?
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): I do not want to go into the private discussions we had, but we said very publicly that both sides needed to reach a compromise. We did not say that this was exclusively a challenge to the Greek Government; we said that the eurozone also needed to work towards a compromise. I think it is fair to reflect on the fact that the reason we are having this statement and the reason there are capital controls and the like is the unilateral decision by the Greek Government on Friday. We respect the vote in the Greek Parliament, and of course we will respect the decision of the Greek people, but that was the change in the dynamic that happened over the past three days.
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
Marcus John Hudson Fysh (Conservative, Centre-right): In order to recover, Greece needs bigger debt relief than is currently on the table and massive pro-market structural reform and support. Neither the EU, the international institutions, nor Syriza currently offer those things. This problem presents serious ongoing economic and strategic risks for us in Europe and beyond. What are our Government doing to ensure that Greece gets what it needs?
Greece — House of Commons, 2015-06-29
Topic: Foreign Trade
George Gideon Oliver Osborne (Conservative, Centre-right): My hon. Friend makes a very important point. Britain is overly dependent on its exports to the rest of the EU. About 50% of our exports go to the EU. We have been working very hard to expand our exports to fast-growing economies in Asia, Latin America and Africa. Although, in general, UK export performance has been quite disappointing in recent years, that is principally because of the weakness of the European economy. Our export performance to many of these emerging economies has been very much better, and we want to build on that—particularly, of course, our links with the Commonwealth countries.
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
Craig Mackinlay (Conservative, Centre-right): The slide of the Greek economy has been long, slow and increasingly painful as it has lurched from one bail-out crisis to the next. The fundamental failure is, of course, the euro at its heart and I do not feel that a new deal now will do anything to solve that. Might a no vote next week be the best outcome, and will my right hon. Friend offer practical support to Greece when it inevitably and sensibly reinstates its own currency?
Greece — House of Commons, 2015-06-29
Topic: International Affairs
George Gideon Oliver Osborne (Conservative, Centre-right): I completely respect my hon. Friend’s opinion, but it is better from my position to say that it is for the Greek people to decide in that referendum. Of course, whatever the outcome, my hon. Friend is absolutely right to say that we are there as a friend of Greece to help it at this troubled time whatever course it chooses to take.
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): I think that the European Union in general has not taken sufficient trouble to make the European economy more competitive, less regulatory and a place where enterprise can flourish and private sector jobs can be created. That is one of the principal arguments we are having at the moment in European Councils.
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
David Thomas Charles Davies (Conservative, Centre-right): Does not this unfolding catastrophe demonstrate very clearly what happens to nations when they cannot balance their own books and rely on borrowed cash? Does my right hon. Friend agree that we need to learn the lesson from this, pay down our deficit and not take any notice of Opposition Members who have done their best to put us in the same situation that Greece is in now?
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): I agree with my hon. Friend that countries need to pay their way in the world. Britain had a budget deficit of more than 10% when the Conservative Prime Minister came to office five years ago. As a result of the action we have taken—universally opposed by the forces opposite—we have made the UK much more secure to deal with these sorts of shocks, but the job is not finished and I am sure my hon. Friend will be in his place on Budget day as we set out the steps we are going to take to finish it.
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): I would not regard it as partisan to point out that we need to reduce our budget deficit, make sure our banking system is properly capitalised and have a more competitive economy. If the hon. Gentleman takes that as a partisan comment, that is more of a reflection on his party than on mine.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
Peter Heaton-Jones (Conservative, Centre-right): Many of my constituents in North Devon have raised with me time and again their opposition to the notion of the United Kingdom ever joining the eurozone. Does my right hon. Friend agree that the current chaos in Greece absolutely justifies their opposition, and will he once again take this opportunity to reassure my constituents that under this Government we will never join the euro?
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
Damian Howard Green (Conservative, Centre-right): My right hon. Friend rightly points out that Britain’s increasing economic stability is necessary, not least to withstand economic shocks from elsewhere, such as that under discussion. Does he think that any further measures are necessary to protect British financial institutions that may be holding Greek debt, which will clearly be of decreasing value?
Greece — House of Commons, 2015-06-29
Topic: Macroeconomics
George Gideon Oliver Osborne (Conservative, Centre-right): Clearly, we are a large economy that is probably the most interconnected and open of the major economies of the world. We have a very large financial sector, so we are exposed to financial turbulence wherever it occurs in the world, which is all the more reason why we need a proper system of regulation and we have now put the Bank of England in charge of regulation. We also need properly capitalised banks—under that new system of regulation, our banks have been recapitalised—and we need to make sure that we are not carrying a very large budget deficit. We have halved the budget deficit and we will take further steps next week to reduce and eliminate that budget deficit. We are prepared for whatever the world throws at us.
Greece — House of Commons, 2015-06-29
Topic: International Affairs
Peter William Bone (Conservative, Centre-right): Does the Chancellor agree that, on occasion, we have to tell friends things that they do not want to hear? In that regard, would it not be better to tell our friends in the eurozone that, certainly in the medium and long term, a Greece exit from the euro and the return of its national currency, which it could then devalue, would be the right thing to do?