Skip to comments.Britain 'won't bail out Greece again' says Downing Street
Posted on 06/20/2011 6:01:23 AM PDT by DeaconBenjamin
Britain has not been asked to take part in any new European Union bailout of Greece, Downing Street said today.
Downing Street said proposals drawn up last night by the 17 eurozone countries do not involve Britain. "There is no proposal on the table which would involve us. The arrangements in place for Greece are arrangements that involved eurozone countries, and we weren't involved in those arrangements."
Asked if any specific request for help was directed to the UK, the spokesman replied: "No there hasn't."
Mr Cameron will discuss the Athens situation with European Commission president Jose Manuel Barroso at a meeting at 10 Downing Street this afternoon but is not expected to make any offer of help.
Germany and France have signalled that there is no reason for London to pay a share of a repeat bailout, likely to be finalised within weeks and for a similar sum as the first.
At today's talks in Luxembourg, Mr Osborne is expected to say that the issue is one for the eurozone alone.
Britain's only potential contribution to bailing out Greece again now comes from its shareholding in the IMF, in the form of loan guarantees which would only be called in if Greece defaults.
The UK did not contribute to the original 110 billion euro deal a year ago, put together by eurozone countries to help save one of their own.
With the slow pace of deficit reduction in Greece and the economic crisis far worse than even pessimists feared, a second bailout is now considered inevitable. Some observers predict default.
Boris Johnson, the Mayor of London, yesterday said the situation had become so dire that Britain should refuse to back Greece, to pave the way for the troubled country to default on its debts and leave the euro.
(Excerpt) Read more at telegraph.co.uk ...
Note to British taxpayers: Prepare for incoming!
Everyone will default eventually. Even us. There really is no way out.
They’re basically throwing money down the toilet. Let it fall and then help to rebuild it.
So what’sthe ruling class accomplishing with the delay? They hide money, we’ll find it. They try to hide themselves, we’ll find them, too.
Eventually, the person has stolen $1.5M from their employer and is still going to Vegas, hoping to win enough to pay it all back.
Fear. Fear and stupidity eats their soul.
And greed. Let's not forget greed.
We've got pols when what we need are statesmen.
Who will bail out Britain?..
Can you say Tarp, QE1, QE2 with QE3 to come?
BINGO! The realization that greed is the basic motivation of the socialists explains the core of their actions. It is no more complicated than that. Next time you read of a socialist expressing an opinion or recommending an action, ask yourself if greed is the main force at work.