Wednesday, December 14, 2011

Cameron denies Britain will contribute to €50 billion non-euro group IMF loan package.

The Guardian, has now reported, under the by-line of its political editor, Patrick Wintour, linked here, that the UK will not contribute to the new IMF loan package agreed at last week's EU Council meeting. I quote:

... the prime minister's spokesman said Cameron had made it clear he had not agreed to this proposal and it had not been approved by the IMF board.
Cameron said at the Cannes G20 summit he would be willing to put more money to the IMF, but indicated the additional contribution could not exceed the £40bn ceiling that has already been approved by MPs in a vote in the summer.
The UK has already committed a £30bn contribution, meaning the UK could not commit more than an extra £10bn without a further vote in parliament, something Cameron will want to avoid.

Update 1415 GMT - The Irish Times has further information on this very confused situation, linked here.

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