UK Refuses To Take Part In The Next Greek Bailout

George Osborne

Photo: Flickr

George Osborne, the British Chancellor, is due to tell EU finance ministers that the UK will not play a role in the latest Greek aid package, reports The Telegraph.Foreign Minister William Hague also confirmed that the UK will not be involved.

“Our view is that any such support for Greece is for the eurozone and for the IMF [International Monetary Fund], not the United Kingdom,” the WSJ reported him saying on his way to a meeting of EU foreign ministers.

The UK did not contribute to the first Greek bailout, but does contribute to the IMF, which has supported Greek aid. This year the UK almost doubled their contributions to £10bn ($16bn) to £19bn ($30bn).

Nigel Farange, leader of the anti-EU UK Independence Party (UKIP) has argued that even this involvement is too much, saying, “A fresh bailout for Greece should not involve the UK. Repeated transfusions will not resuscitate a corpse and the euro is dead.”

Talks about a new Greek bailout amongst the Eurogroup (a group of EU finance ministers) are ongoing.

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