{"id":50111,"date":"2012-01-19T05:52:54","date_gmt":"2012-01-19T03:52:54","guid":{"rendered":"http:\/\/www.turkishnews.com\/en\/content\/?p=50111"},"modified":"2016-12-28T16:05:14","modified_gmt":"2016-12-28T13:05:14","slug":"uk-planning-for-eurozone-collapse","status":"publish","type":"post","link":"https:\/\/www.turkishnews.com\/en\/content\/2012\/01\/19\/uk-planning-for-eurozone-collapse\/","title":{"rendered":"UK &#8216;planning for eurozone collapse&#8217;"},"content":{"rendered":"<figure id=\"attachment_50112\" aria-describedby=\"caption-attachment-50112\" style=\"width: 200px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-50112\" title=\"The Bank of Ireland\" src=\"https:\/\/www.turkishnews.com\/en\/content\/wp-content\/uploads\/2012\/01\/Lord-Sassoon.jpg\" alt=\"\" width=\"200\" height=\"200\" srcset=\"https:\/\/www.turkishnews.com\/en\/content\/wp-content\/uploads\/2012\/01\/Lord-Sassoon.jpg 200w, https:\/\/www.turkishnews.com\/en\/content\/wp-content\/uploads\/2012\/01\/Lord-Sassoon-150x150.jpg 150w\" sizes=\"auto, (max-width: 200px) 100vw, 200px\" \/><figcaption id=\"caption-attachment-50112\" class=\"wp-caption-text\">Lord Sassoon said Britain wanted to see a &#39;strong and dynamic&#39; eurozone and European economy<\/figcaption><\/figure>\n<p><strong>The Government is undertaking &#8220;extensive contingency planning&#8221; in the event of a eurozone collapse, peers have been told.<\/strong><\/p>\n<p>Treasury minister Lord Sassoon said the planning was aimed at dealing with <strong>&#8220;all potential outcomes of the eurozone crisis&#8221;<\/strong>.<\/p>\n<p>At question time, he said Britain wanted to see a &#8220;strong and dynamic&#8221; eurozone and European economy.<\/p>\n<p>But he stressed it was for the eurozone countries to &#8220;take the lead in supporting the euro as a currency&#8221;.<\/p>\n<p>Lord Sassoon also indicated that Britain would be prepared to stump up more cash to tackle the crisis if the IMF requested it.<\/p>\n<p>&#8220;The Government sees the role of the IMF to support individual countries and not to support currencies.<\/p>\n<p>&#8220;If the IMF puts forward a case, as it may well do, for an increase in its resources, if there is a strong case the UK will, as it has always done in the past, support the IMF in increasing resources as required,&#8221; he said.<\/p>\n<p>Tory former chancellor Lord Lawson of Blaby said: <strong>&#8220;There is only one thing as worrying as the collapse of the eurozone and that&#8217;s the continuation of the eurozone.&#8221;<\/strong><\/p>\n<p>He said it has been shown to be &#8220;fundamentally flawed and the cause of all these problems&#8221;.<\/p>\n<p>Lord Lawson said ministers needed to look at the risk of a banking meltdown, adding:<strong> &#8220;If it should prove necessary for the UK Government to rescue any British banks, they should do so on <em>much tougher terms than the ludicrously soft terms which the previous administration used.<\/em>&#8220;<\/strong><\/p>\n<p>www.thisislondon.co.uk, 18 January 2012<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Government is undertaking &#8220;extensive contingency planning&#8221; in the event of a eurozone collapse, peers have been told. Treasury minister Lord Sassoon said the planning was aimed at dealing with &#8220;all potential outcomes of the eurozone crisis&#8221;. At question time, he said Britain wanted to see a &#8220;strong and dynamic&#8221; eurozone and European economy. But [&hellip;]<\/p>\n","protected":false},"author":83,"featured_media":50112,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[846,21],"tags":[2936,3186,7836],"class_list":["post-50111","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-eu-members","tag-euro","tag-eurozone","tag-eurozone-collapse"],"_links":{"self":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts\/50111","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/users\/83"}],"replies":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/comments?post=50111"}],"version-history":[{"count":0,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/posts\/50111\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/media\/50112"}],"wp:attachment":[{"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/media?parent=50111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/categories?post=50111"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.turkishnews.com\/en\/content\/wp-json\/wp\/v2\/tags?post=50111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}