Plan is a blow to British PM David Cameron who thought he had secured a ‘black and white’ opt-out from further bailouts for eurozone countriesThe European commission has defied George Osborne, the UK chancellor, by formally proposing an emergency loan for Greece through an EU-wide bailout fund using up to £850m of British contributions.The proposed use of the European Financial Stability Mechanism fund is a blow to the UK, because David Cameron thought he had secured in 2010 a “black and white” British opt-out from participating in any further bailouts for eurozone countries. Continue reading...
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