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Bailout of eurozone countries will cost us billions more, Osborne admits

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TIM SHIPMAN
UK Daily Mail
October 17, 2011

British taxpayers could be forced to contribute billions more to bail out bankrupt eurozone countries, the Chancellor has admitted.

George Osborne said he had agreed that Britain’s contribution to the International Monetary Fund to prop up ailing economies could rise.

The UK has already paid £12billion to prop up members of the single currency – through the European Union, the IMF and a direct loan to Ireland.

But officials admit Britain may be required to do more if world leaders are to solve the debt crisis and restore confidence in the world economy.

Ed Miliband today claimed the Government’s economic policy was harming the ‘huge potential’ of young people.

Full article here

This article was posted: Monday, October 17, 2011 at 8:25 am





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