Britain has already contributed £12.5billion to the bailouts of Ireland, Portugal and Greece, through both the EU and the IMF.The ruling means that Britain will contribute around £1billion to the bailont through the International Monetary Fund but will be spared another raid on the public purse from the EU.Last night a Downing Street source said: ‘This is the right result for the British taxpayer.’ The communique to be signed by all 27 EU leaders today will confirm that only IMF and eurozone nations will pay.
It came after a fraught day in which the Germans had tried to force Britain into a corner.Asked if the EU-wide European Financial Stability Mechanism would be excluded from the bailout, worth £100 billion, Mr Van Rompuy said: ‘Yes.’Amid signs that EU nations outside the single currency might be asked to cough up, the Prime Minister’s aides had rushed to seek assurances from Germany that the UK would not be railroaded into contributing.
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