IMF needs a sub ,and Britain obliges
 

Quote:

Britain is to commit a further £10bn to the International Monetary Fund's bailout war chest. George Osborne has confirmed the UK will give the extra cash in the face of fresh fears about a new economic and financial crisis in Europe. Although the loan is sizeable, the Chancellor will not have to seek Parliamentary approval because it narrowly falls within the headroom he already has to provide to the Fund. It means that Britain's exposure to the IMF, which is deeply involved with the euro bail-outs, will rise from just under £30bn currently to around £40bn.

http://news.sky.com/home/business/article/16212857

I thought we where skint .Should we be exposing ourselves further to other countries debt and risking what little financial stability we have on other countries defaulting on the loans that we have given out

Re: IMF needs a sub ,and Britain obliges
 

No!

Re: IMF needs a sub ,and Britain obliges
 

Where's Bono when you need him? can't he arrange a celebrity tax avoid... cough sorry whip-round?

Re: IMF needs a sub ,and Britain obliges
 

When i first saw this i thought it was a joke seriously many people in this country are hurting in many ways because of austerity but it seems we have the money when it suits us or can look good am i the only one thats confused. George osbourne really is turning out to be quite the prat this after his debacle of a budget and a string of ineffective at best policys methinks it's time for a change at no11. Won't hold my breath on that though as he is such a close pal of dave's it is going to take something staggeringly bad to get him out of there.

Re: IMF needs a sub ,and Britain obliges
 

Let's not forget this amounts to a loan, our only concern should be whether or not we get it back at some point... :erm:

Re: IMF needs a sub ,and Britain obliges
 

"get it back":LOL::LOL::LOL: once it is given it is gone.

Re: IMF needs a sub ,and Britain obliges
 

I don't know about a prat mate ,but i think he's bloody magician or a liar .Did he honestly think that being able to all of a sudden magic up £10billion after telling us a few weeks ago that we where skint and couldn't afford this and that ,that this would sneak by without being noticed .
Who's going to bail us out when one of the countries defaults on their loans and sends our already faultering economy down the toilet and around the u bend

---------- Post added at 20:22 ---------- Previous post was at 20:19 ----------

that's exactly what's worrying me Osem ,is it sensible to be lending countries who have possibly already gotten massive funding from the IMF even more increasing the chances of defaulting

Re: IMF needs a sub ,and Britain obliges
 

Who knows but it may be us who's needing an IMF bailout at somepoint. We're in uncharted waters...

Re: IMF needs a sub ,and Britain obliges
 

If we stopped giving out money we wouldn't be so bad off in times like this i don't think it is unreasonable to reign in the money given out be it to the imf or the eu and conserve as much money as you can to take care of your national population. What bothers me with all this bailout business is it has to be paid for sometime and i can just see us in the future squandering more of the UK's cash to be the one to help pay for it and i no longer have any faith in any politician and their promises of this and that.

Loan has become a byword for blowing the cash in relation to some countries and the countries doing the loaning will be lucky to see any substantial amount of it back i just don't want the UK to be one of those countries.

Re: IMF needs a sub ,and Britain obliges
 

Is it coincidence that the amount (£10billion) committed is identical to the amount he can commit without seeking parliamentary approval ,I think not .He knew full well that he would not get approval, so he tried to sneak this through raising as little fuss as possible .I would like to know how much the IMF really asked for.

Re: IMF needs a sub ,and Britain obliges
 

It's all about safeguarding jobs ......aparently.

---------- Post added at 11:50 ---------- Previous post was at 11:40 ----------

is that correct ?and if so how much do we make from lending money .

Hold on minute .We have £10billion ,probably much more ,sitting around doing nothing for the country ,a "war chest" if you will .Surely such a fund is for emergencies and bad times ......like now ?

http://www.bbc.co.uk/news/business-17790831

Re: IMF needs a sub ,and Britain obliges
 

No surprise to me - the Bank of England's been printing money like it was going out of fashion for quite some time. £10biliion? Simples..... ;)

Re: IMF needs a sub ,and Britain obliges
 

surely that devalues it though doesn't it ?

Re: IMF needs a sub ,and Britain obliges
 

Yep.

http://www.economicshelp.org/blog/34...-the-currency/

Re: IMF needs a sub ,and Britain obliges
 

Exactly but we should add "at the expense of Grannies and Pasty manufacturers and to the detriment of the infirm and disabled." :mad: