UK Not Paying New Euro Bailout Fund
Published / Last Updated on 19/12/2011
UK Not Paying New Euro Bailout Fund.
European countries have agreed to provide 150bn euros (£125bn; $194bn) to the International Monetary Fund, which could be used to help countries in the eurozone struggling to pay their debts.
However, Britain’s decision not to take part in a scheme to support the eurozone means that EU finance ministers have failed to reach their target of 200bn euro.
The largest contributors to the fund were Germany and Spain and contributions to the IMF fund have also been pledged by several countries outside the eurozone, including Denmark, Sweden, Poland and the Czech Republic.