Wednesday, December 14, 2011

Britain's share of the €50 Billion non-euro area bilateral IMF loans agreed 9th December.

As I blogged last Friday, linked here, Britain apparently agreed to provide a share of the €50 billion loan to the IMF, finally noticed and reported upon this morning by part of the MSM, linked here.

This has also become a matter of grave concern in the Czech Rebublic, which is expected to provide €3.5 Billion (therefore surely the mind must boggle at what the liability to Britain will be,) as I also blogged about here.

It was obvious from the outset that something fishy was going on regarding the IMF (witness William Hague on the Today programme on Friday morning) and I vented my frustration in trying to get at the facts in an early posting on the deal, linked here, it cannot be mere incompetence that has kept this matter out of the area of public debate for coming up to a week! What do we pay the BBC Licence Fee for exactly?  (Update: Angela Merkel's press conference I seem to recall also mentioned these amounts).

(Update 0745 GMT: John Redwood discusses the package on his blog this morning, linked here, I commented as follows:

Posted December 14, 2011 at 7:44 am | Permalink
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There was an agreement involving the non-Euro Group countries apparently and that related to €50 billion of bilateral loans to the IMF. I spent last Friday trying to get the facts on that and only managed to learn that the Czech Rebublic share was €3.5 billion, as revcealed by President Klaus, later confirmationof the package came from Mme Lagard. Links and posts on this search are on my blog.

Secrecy such as that seemingly deployed here is a huge threat to our democracy, hopefully some MPs can shake the facts on this loose in Parliament today).



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