IMF seeking £30 billion more bailout cash from Britain to prop up ailing euro

IMF seeking £30 billion more bailout cash from Britain to prop up ailing euro

Eurozone leaders have launched a bid to get Britain to pay another £30billion to prop up the single currency.

The cash would be part of a new bail-out of the euro nations by the International Monetary Fund which David Cameron has pledged to fight.

Officials said Britain could be prepared to hand over another £10billion to the IMF – but only if the eurozone does more to sort out its economic problems.

However, in a highly provocative act, the IMF yesterday endorsed a eurozone proposal to funnel a massive 200billion euros – around £170billion – to the crisis-hit countries in the single currency.

IMF boss Christine Lagarde, the former French finance minister, piled pressure on to the UK, briefing the IMF’s official Survey Magazine that non eurozone countries like Britain should be asked to contribute more than £40billion.

As the biggest economy of the ten EU nations not in the single currency, the UK’s share would be some £30billion. Read More