Eurozone crisis: UK 'preparing to give more to IMF'
03 November 2011, 10:53 AM
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Eurozone crisis: UK 'preparing to give more to IMF'
Eurozone crisis: UK 'preparing to give more to IMF'
Nice to know we have money to 'loan' to them..... those cuts must be working
Nice to know we have money to 'loan' to them..... those cuts must be working
03 November 2011, 11:35 AM
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Terribly important to keep impressing the other world leaders though! They will want to keep their feet under the table.
We are of no importance of course...until the next election!
Les
We are of no importance of course...until the next election!
Les
03 November 2011, 11:42 AM
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Do you even comprehend the magnitude of this rapidly developing crisis?
03 November 2011, 12:18 PM
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Not sure this is such a political hot potato.
It's not giving, it's lending. And it's to the IMF, not Greece.
It's in the UK's interest that the IMF remains liquid and therefore viable. It's nothing to do with austerity measures in the UK and the money they might be saving. That's just being disingenuous.
It's not giving, it's lending. And it's to the IMF, not Greece.
It's in the UK's interest that the IMF remains liquid and therefore viable. It's nothing to do with austerity measures in the UK and the money they might be saving. That's just being disingenuous.
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03 November 2011, 01:19 PM
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Just like the referendums in Ireland etc that went against the EU. Whoops, wrong answer, let's ask them again ... Strange how when they voted yes they weren't given another vote ...
And in the UK we have, from Hansard ... http://www.publications.parliament.u...11012-0002.htm ... Osborne said:
Britain chose not to join the euro and the British Prime Minister has fought hard to get Britain out of the bail-out fund to which the previous Government signed us up. I want to make it clear that whatever the Commission President says, British taxpayers will not be contributing to the eurozone’s bail-out of Greece—full stop.
However, we will work with our eurozone partners to help them to resolve the crisis and work with our international partners in institutions such as the IMF to ensure that they have the resources to deal with the problems across the world.
And you wonder why Les comments on the lack of respect for democracy shown by our politicians??
Dave
03 November 2011, 01:28 PM
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To be fair, Dave, Osborne didn't contadict himself directly. There's no talk of Greece going to the IMF, at least not yet. If they did, then yes, Osborne might be a bit irked that some of his money might be going to Greece when he'd prefer it not to.
I'm not sure you can call this undemocratic of Germany and France given they're the ones providing most of the money. I'm not sure Greece are in a position to "decide" whether to accept financial salvation or not. Certainly the Greek government themselves can't seem to decide. They're making it into a complete drama, something the Greeks are masters at. Sarkozy must be very tempted to tell them to stick it.
I'm not sure you can call this undemocratic of Germany and France given they're the ones providing most of the money. I'm not sure Greece are in a position to "decide" whether to accept financial salvation or not. Certainly the Greek government themselves can't seem to decide. They're making it into a complete drama, something the Greeks are masters at. Sarkozy must be very tempted to tell them to stick it.
03 November 2011, 01:32 PM
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Not sure this is such a political hot potato.
It's not giving, it's lending. And it's to the IMF, not Greece.
It's in the UK's interest that the IMF remains liquid and therefore viable. It's nothing to do with austerity measures in the UK and the money they might be saving. That's just being disingenuous.
It's not giving, it's lending. And it's to the IMF, not Greece.
It's in the UK's interest that the IMF remains liquid and therefore viable. It's nothing to do with austerity measures in the UK and the money they might be saving. That's just being disingenuous.
My point is on the one hand we are told we are strugglng with a huge debt and cuts must be made yet we still seem to have money for wars and lending to the IMF.
On the other I can see what the explanation might be for that as it's the way various budgets are set and allocated and is looking at an overall longer term fiscal plan for the UK, but then I get a bit sceptical when we were told just the other day that here was no more money for the IMF.
It just feels like the government don't really have a plan and are running around like headless chickens!
03 November 2011, 01:36 PM
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But F1, all that's being said is that if the IMF's lending fund is expanded, the UK would play their part and honour the contract agreed by Darling (wasn't he a Labour MP?) and contribute a larger amount, but still the same % of the fund.
Why is that not having a plan?
Why is that not having a plan?
03 November 2011, 01:39 PM
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Got it in one
03 November 2011, 02:44 PM
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Completely irrelevant to Les's comment. Which was high-lighting (assuming I'm para-phrasing Les correctly!) the lack of democracy within the EU, and the rest of the world for that matter. 'Democracy' is a word bandied about by politicians but actually given scant regard when push comes to shove. You'll note that the Greek PM is giving his people a vote on a vitally important subject and is immediately shouted down by other, so-called, 'democracies'.
Just like the referendums in Ireland etc that went against the EU. Whoops, wrong answer, let's ask them again ... Strange how when they voted yes they weren't given another vote ...
And in the UK we have, from Hansard ... http://www.publications.parliament.u...11012-0002.htm ... Osborne said:
But he goes on to say:
... which could possibly mean Greece
And you wonder why Les comments on the lack of respect for democracy shown by our politicians??
Dave
Just like the referendums in Ireland etc that went against the EU. Whoops, wrong answer, let's ask them again ... Strange how when they voted yes they weren't given another vote ...
And in the UK we have, from Hansard ... http://www.publications.parliament.u...11012-0002.htm ... Osborne said:
But he goes on to say:
... which could possibly mean Greece
And you wonder why Les comments on the lack of respect for democracy shown by our politicians??
Dave
This is a massive crisis, whatever the chancellor says one day is completely out of date within days.
I'm sure when he said it he meant it, but they are trying to fire a friggin great firestorm of a crisis, cut them some slack ffs.
03 November 2011, 04:12 PM
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Not being anti Tory btw (for once) as it would be a bigger mess if we had Millipede and co. at the helm.
03 November 2011, 04:26 PM
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But it isn't, that was my point. He's not going to pay to bail out Greece. If the IMF fund is used to do that, it would be a hard marker who said that was a contradiction by Osborne.
03 November 2011, 04:42 PM
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Dave
03 November 2011, 05:04 PM
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Sorry but no, disagree. I think if Osborne could prevent any UK money reaching Greece, he would. But how can he? Who knows whether any IMF loan contains "UK cash". You're being unnecessarily critical of politicians in this case, in my opinion.
03 November 2011, 05:24 PM
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Plus if we lend money, the rate at which it is lent is better then which we borrow in the first place so we`ll make money.
The austerity package we are in the middle of has kept our AAA rating, unlike a lot of other major countries, so we can keep low interest rates, bummer for savings but better for your 100%+ mortgage.
The IMF is NOT the Eurozone, so when hes said we will not lend money to the Eurozone he meant it. The IMF could possibly do so if it does go down the pan, but then the IMF isn`t George Osborne.
If we didn`t take these opportunities to lend money to make it, like we did with Ireland. Then thats bad management, as for every £1 we lend we`ll get more back and at a better rate than if we`d kept it in the bank.
03 November 2011, 05:37 PM
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Yep completely agree
I think there is way too much cynicism sometimes.
All the politicians can do right now is react to events, and that's all our government is doing.
You could argue that they should be 'getting ahead of events' but that really would start to **** some people off, as it would likely require more money, more risk and still no guarantee of success
Like I said, cut them a bit of slack here, this is pretty uncharted territory
04 November 2011, 03:41 PM
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04 November 2011, 03:47 PM
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04 November 2011, 03:49 PM
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04 November 2011, 03:55 PM
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