Not a Single Billion More

George Osborne gave a cast iron promise last October:

“Britain will not be putting money into the bailout fund either directly or through the IMF… the IMF exists to support countries, it does not exist to support currencies. The IMF contributing money to the eurozone bailout fund, no; Britain contributing money to the eurozone bailout fund, no. That is Britain’s clear position.”

Ed Balls and Tory backbenchers are at one on this, it is for Germany through the ECB to support the €uro. The American and Chinese Treasury ministers agree, it is not the purpose of the IMF to bailout an ill-conceived currency union. Don’t forget your promise George*…

*Guido hasn’t forgotten his IMF promise.

Saturday Seven Up

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Quote of the Day

Paul Waugh asks Chuka Umunna if he wants children:

“It’s always something that my father taught me, which is really the bedrock of everything is your family and that’s true. My family and the people close to me keep me sane. Sometimes, things get blown up out of all proportion in this place and that’s always the reaction of my family, my girlfriend and my friends. I can use that to judge whether it really is that important.”

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