CelticViking
06-21-2011, 09:54 PM
David Cameron today spelled out his determination to stop taxpayers’ money being used to bail out Greece.
He used forthright language to describe his attitude towards the bailed-out economy costing Europe a fortune at his weekly Downing Street press conference.
'We were not involved in the first bailout of Greece, we don't believe the European financial mechanism should be used in any way,' Mr Cameron said.
He told business leaders the UK had no obligation to help Greece other than through the International Monetary Fund because Britain had, ‘thank God’, stayed out of the euro.
The Prime Minister said he would make his position clear later this week at a summit for the 27 European Union leaders – a meeting which will be dominated by the debt crisis.
His comments came as eurozone finance ministers gave Greece two weeks to approve stricter austerity measures before they are prepared to sign off a second emergency loan of £11billion.
World stocks and the euro rose from last week's three-week lows today following the eurozone ultimatum.
Investors are awaiting a parliamentary confidence vote for Greek Prime Minister George Papandreou, a step towards the passage of more spending cuts in exchange for foreign loans.
World stocks are down nearly 8 per cent from their three-year high set in May as investors grew worried disorderly restructuring of Greek debt would cause ructions in the market and hit the region's banking sector.
http://www.dailymail.co.uk/news/article-2006014/Not-penny-Cameron-vows-wont-let-British-taxpayers-money-spent-Greek-bailout.html
He used forthright language to describe his attitude towards the bailed-out economy costing Europe a fortune at his weekly Downing Street press conference.
'We were not involved in the first bailout of Greece, we don't believe the European financial mechanism should be used in any way,' Mr Cameron said.
He told business leaders the UK had no obligation to help Greece other than through the International Monetary Fund because Britain had, ‘thank God’, stayed out of the euro.
The Prime Minister said he would make his position clear later this week at a summit for the 27 European Union leaders – a meeting which will be dominated by the debt crisis.
His comments came as eurozone finance ministers gave Greece two weeks to approve stricter austerity measures before they are prepared to sign off a second emergency loan of £11billion.
World stocks and the euro rose from last week's three-week lows today following the eurozone ultimatum.
Investors are awaiting a parliamentary confidence vote for Greek Prime Minister George Papandreou, a step towards the passage of more spending cuts in exchange for foreign loans.
World stocks are down nearly 8 per cent from their three-year high set in May as investors grew worried disorderly restructuring of Greek debt would cause ructions in the market and hit the region's banking sector.
http://www.dailymail.co.uk/news/article-2006014/Not-penny-Cameron-vows-wont-let-British-taxpayers-money-spent-Greek-bailout.html