Monday, December 19, 2011

Sweden requires new IMF funding for EU be on normal IMF terms

The report from Nasdaq is here. The telphone conference call on the supposed €200 Billion new loans to the IMF amongst EU finance ministers was supposed to conclude some time ago, other news will be posted on this blog when available.

Some clarity on Britain's stance comes in this WSJ report, which states towards its close:

The IMF official said there have been efforts to persuade London to make a minimum €30 billion loan to the Fund, but following Prime Minister David Cameron's move to veto an EU treaty change at the Dec. 9 Summit, that looks unlikely.
"The U.K. understands the need to give the IMF greater firepower, but it will consider a pledge at a different forum like the G-20. The politics behind a contribution that calls on the Bank of England to be part of a euro-zone member bailout are currently prohibitive," the euro-zone official said. "We all understood that by Mr. Cameron's stance at the last summit."



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