Britain may be forced to bail out Greece

Words fail me... If this goes ahead, people should be taking to the streets in their millions over it!

DAILY TELEGRAPH, 10 Feb 2010: Britain could be forced to help bail-out some of Europe’s crisis-hit economies with tens of billions of pounds, it is feared. (Britain contributes 20 per cent of the EU budget.)

Gordon Brown is under mounting pressure from MPs on all sides to ensure that only eurozone countries contribute to a bail-out of Greece, whose economy is teetering on the brink of collapse.

The Prime Minister will this morning arrive in Brussels for a crucial European leaders’ summit amid fears that the UK could get dragged into a full European Union bail out plan.

Downing Street, however, insisted that the focus of responsibility should fall on the eurozone countries and, failing that, a G20 group of leading nations solution.

Last night European officials were involved in furious efforts to try and complete a €20 billion rescue package, designed to halt the looming crisis in Greece before it spreads to other countries. France and Germany were at the forefront of the eurozone negotiations.

However, Mr Brown – when challenged in the Commons over Britain’s position – was unable to rule out Britain’s involvement in a a Greek rescue package.

Link to full article [external site]

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Also, an article by a financial commentator on the same subject click here [external site]

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And an interesting business site’s view on the Euro and the Rise of Nationalism across Europe [external site]

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