Osborne flushes away another £10bn

[-:Undertaker:-]

http://www.telegraph.co.uk/finance/f...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.

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

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?

[RockyHorror]

When I saw Osborne flushes away another... as the preview title, for some reason I expected this was an abortion thread. Disappointed to say the least.

I don't have any thoughts on this.

[Suspective]

Sick of the government giving money to the EU and lets be honest even if Labour were encharge it would still happen.

They say its a loan and will be paid back with interest in full, but its going to take quite a few years before that happens.

[Oleh]

I don't see why our government has to constantly palm out money to every country willingly, we have our own problems, theirs shouldn't be of interest.

[dbgtz]

In all fairness, we were in a right state 35 years ago and I imagine many people we sceptical. While I'm not supporting the Euro, we should probably help.

[Chippiewill]

In all fairness, we were in a right state 35 years ago and I imagine many people we sceptical. While I'm not supporting the Euro, we should probably help.

The way to help them is to get them to accept their project is failed and to force them to work out a suitable exit strategy for the different members. Not to bail them out and give them false hope that it's still a good idea.

[dbgtz]

The way to help them is to get them to accept their project is failed and to force them to work out a suitable exit strategy for the different members. Not to bail them out and give them false hope that it's still a good idea.

Yeah but unfortuantely, they're all blinded. I wasn't really on about supporting the Euro but the countries in hot water, and they all use the Euro. But yeah, I completely agree. All that will come out of the end is the EU being more of a country than a union of countries.

[Ajthedragon]

By the time it's paid back with interest we'll have paid more interest on the money (assuming its borrowed like everything else) than we'll get back anyway. Sorry for poor clarity of expression.

Bad call Oz.

[GommeInc]

It's funny, because all this lending is what caused the financial problems. You know, the Government having a go at banks for lending money to people who cannot and will never pay back the money they have borrowed. Are the Governments chucking their money down black holes not doing exactly that?