Theresa May highlighted how important managing the economy was to the future of Britain's prosperity.
Jeremy Corbyn had criticised the Prime Minister, claiming the Conservatives were not supporting the NHS and other public services.
Mrs May snapped back as she evoked Greece and claimed Corbyn's plans would leave the Usimilarlyly destitute.
She said: “I understand that it has been hard for people who have been working hard and making sacrifices as we have been dealing with Labour’s mismanagement of the economy.
Theresa May warned Labour debt plans could turn Britain into Greece.
“Let me remind the right honourable gentleman what happens when you don’t deal with the deficit.
“It is not a theoretical issue, let’s look at those countries that failed to deal with it.
“In Greece where we haven’t dealt with the deficit, what did we see? What did we see with the failure to deal with the deficit?
“Spending on the health service cut by 36 per cent. That doesn’t help nurses or patients.”
Let’s look at those countries that failed to deal with it
During the PMQs debate in the House of Commons, the Prime Minister also claimed the whole country would be forced to “pay” for a Labour Party government.
“To echo those of my colleagues, what we offer young people is more jobs, more homes, an opportunity to own their own home,” she said.
“Let me just tell the right honourable gentleman, what isn’t fair. It isn’t fair to refuse to take tough decisions and to load debts onto our children and our grandchildren for the future.
“It isn’t fair to bankrupt our economy because that leads to people losing their jobs and losing their homes.
“It isn’t fair to go out and tell people that they can have all the of public spending that they want without paying for it.
“Labour’s way leads to fewer jobs, higher prices, more taxes, and Labour’s way means everyone pays the price of Labour.”
The Queen's Speech: Latest pictures Wed, June 21, 2017
Live pictures as the Queen delivers her speech to the House of Lords at the state opening of Parliament
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MPs debate the Queen's Speech in the House of Commons
Meanwhile, German Chancellor Angela Merkel has performed a major U-turn on her plans to rescue the Eurozone from economic turmoil where Greece has been the key victim.
Since 2010, Mrs Merkel has urged the International Monetary Fund to play a key role in tackling the Greek debt crisis.
But new plans laid out by her party could see the IMF take a far smaller role in any future bailouts.
The Christian Democratic Union wants the Eurozone's bailout fund, the European Stability Mechanism, to be dramatically expanded.
The policy was unveiled in the party's manifesto ahead of September's crunch elections in Germany.
German’s Finance Minister last week said there Germany, the EU and the IMF disagreed on whether Greece's debt was sustainable.
Wolfgang Schaeuble said: "We have all acknowledged that the third Greek bailout payment will be the last with the participation of the IMF."