35. Mr. L. MALONEasked the Chancellor of the Exchequer what securities, and what amount of each security, have His Majesty's Government consented to the release of in order to facilitate the raising of a loan by the Greek Government?
Mr. YOUNGThe hon. Member misconceives this transaction. As has been stated on several occasions, under an agreement of February, 1918, the Greek Government could not assign the security of Greek revenues to a new loan until Greek war debts to this country were repaid without the consent of His Majesty's Government. This assent was given in order that the Greek Government might be put in a position of equality with other would-be borrowers in negotiating a market loan. No such loan has, in fact, been raised.