RE-ESTABLISHING NATIONAL CURRENCIES IN THE EU

Motion Text

That this House notes with interest recent suggestions by senior Italian politicians that Italy should leave the euro and re-establish the lira; further notes leaked discussions by senior German government representatives about how Germany might return to the Deutschmark; welcomes the statement by Christian Noyer of the Bank of France who sits on the European Central Bank governing body that it is possible for a member government to leave the euro; believes that a recent HSBC bank study conclusion that the current path of the euro-zone is unsustainable suggests that a euro-zone crisis is approaching; and calls on the Government during its EU Presidency to offer any necessary assistance and advice to euro-zone governments seeking to re-establish their national currencies.