-:Undertaker:-
21-04-2012, 09:09 AM
http://www.telegraph.co.uk/finance/financialcrisis/9217926/Taxpayer-stumps-up-another-10bn-to-save-euro.html
Taxpayer stumps up another £10bn to save euro
Britain is to give another £10 billion to the International Monetary Fund amid fears over the euro — but MPs will be denied a vote on the decision, George Osborne said.
http://i.telegraph.co.uk/multimedia/archive/02198/osborne-lagarde_2198826b.jpg
As bad as Labour: Osborne gives away another £10bn taking our total to £25bn
The Chancellor is braced for a political backlash against the move, which was condemned by some Conservative MPs, at a time of unprecedented public spending cuts and a squeeze on family finances. Mr Osborne has repeatedly pledged not to use British money to bail out the euro. He is now facing accusations that the IMF funds are an indirect way of helping to prop up the beleaguered single currency. Senior government sources said it would be “incredibly irresponsible” for Britain not to have offered the extra money amid fears that countries using the euro are on the brink of being plunged back into crisis.
The contribution means every household has a potential liability equivalent to more than £1,600 to help rescue troubled foreign countries. Britain will have a total liability to the IMF of almost £40 billion, as well as billions more in separate loans to Ireland and Greece.
George Osborne made clear, only a few months ago, that no more British taxpayer funded gurantees would be made to the Eurozone. Today he has shown himself up to be nothing more than a liar. The money we are lending here we will never get back, the Eurozone countries are unable to repay their debts in any shape or form because a) they're bankrupt & b) they are trapped within the Euro, unable to devalue.
@Nigel_Farage (https://twitter.com/#!/Nigel_Farage)
For Osborne to offer £10bn to the IMF is an absolute disgrace. He's pouring good money after bad for the sake of a political project.
This wouldn't happen under a UKIP government.
Thoughts?
Taxpayer stumps up another £10bn to save euro
Britain is to give another £10 billion to the International Monetary Fund amid fears over the euro — but MPs will be denied a vote on the decision, George Osborne said.
http://i.telegraph.co.uk/multimedia/archive/02198/osborne-lagarde_2198826b.jpg
As bad as Labour: Osborne gives away another £10bn taking our total to £25bn
The Chancellor is braced for a political backlash against the move, which was condemned by some Conservative MPs, at a time of unprecedented public spending cuts and a squeeze on family finances. Mr Osborne has repeatedly pledged not to use British money to bail out the euro. He is now facing accusations that the IMF funds are an indirect way of helping to prop up the beleaguered single currency. Senior government sources said it would be “incredibly irresponsible” for Britain not to have offered the extra money amid fears that countries using the euro are on the brink of being plunged back into crisis.
The contribution means every household has a potential liability equivalent to more than £1,600 to help rescue troubled foreign countries. Britain will have a total liability to the IMF of almost £40 billion, as well as billions more in separate loans to Ireland and Greece.
George Osborne made clear, only a few months ago, that no more British taxpayer funded gurantees would be made to the Eurozone. Today he has shown himself up to be nothing more than a liar. The money we are lending here we will never get back, the Eurozone countries are unable to repay their debts in any shape or form because a) they're bankrupt & b) they are trapped within the Euro, unable to devalue.
@Nigel_Farage (https://twitter.com/#!/Nigel_Farage)
For Osborne to offer £10bn to the IMF is an absolute disgrace. He's pouring good money after bad for the sake of a political project.
This wouldn't happen under a UKIP government.
Thoughts?