George Osborne yesterday told Eurozone leaders that Britain would not contribute to a special bailout facility that they are establishing at the IMF, specifically to bolster the single currency. The Eurozone nations had been hoping to build a €200bn warchest but Britain’s refusal to participate means it has fallen well short. via Now it’s Osborne’s turn to say “no” to Europe The Tory Diary. My recent IMF speech is here.
Tag Archives: IMF
Yesterday, a statutory instrument committee was asked to decide to agree another £10bn for the IMF. With others, I crashed the committee and spoke. You can find the debate here. In addition to rejecting bailouts, I attacked the IMF before questioning our fundamental monetary arrangements. Here’s the section on the IMF (I insert a minor correction I have requested from Hansard): [T]he IMF was created as part of the Bretton Woods system of currencies. We tend to talk as though […]