Tuesday, December 20, 2011

France has 'no doubt' UK will help fund IMF euro bailout, just like they had No Doubt UK would Sign New EU Treaty

France still believes Britain will help fund a planned IMF eurozone bail-out once other world powers agree to chip in, a minister said on Tuesday, despite London's reluctance to take part.

Budget minister and government spokeswoman Valerie Pecresse told LCI television that Britain's reluctance was largely symbolic and predicted that Prime Minister David Cameron's government would fall into line

"I have no doubt that Britain, once a certain number of G20 countries agree to fund the IMF, will come to the IMF's aid," she said.

"What the British don't want is to specifically top up the eurozone, in which they are not members. But I think if it's a question of funding the IMF and solidifying the IMF, they'll agree," she added.

European Union leaders are trying to fill a €200bn war chest to loan to the IMF, which in turn would then be able to extend credit to eurozone countries struggling to fund their debts.

So far, only EU members have contributed, and Britain has made it clear that it will not help fund a scheme that is limited to the eurozone. Read More