GREECE AND THE EUROZONE

That this House notes the comments by Professor Hans-Werner Sinn, head of the prestigious German IFO Institute, reported on 6 September 2010, that Greece abandoning the euro and re-establishing the drachma as its national currency would be the least bad option for dealing with its current crisis; further notes his comments that the other options were either for the world to subsidise Greece indefinitely or to force an even greater degree of austerity which would push the country to the brink of civil war; considers that the crisis in the Eurozone provides yet more evidence that the euro is a flawed project; and congratulates the right hon. Member for Kirkcaldy and Cowdenbeath on keeping the UK out of the Eurozone during his period of office as Chancellor of the Exchequer.