Contrary to Chancellor George Osborne’s claim, British taxpayers will be forced to contribute to the eurozone bailout through a boost in the “firepower” of the International Monetary Fund (IMF).
The IMF will, without question, pay in to the European Financial Stability Facility “special investment vehicle” (SPIV) which will bolster the failing euro and temporarily, at least, prop up Greece and other failing eurozone states.
The IMF has already announced, via a statement released through the Reuters news agency, that it will take part in the latest and most ambitious SPIV scheme.
Britain is obliged to contribute 4.5 percent of any IMF stake.
Mr Osborne has engaged in a deliberate deception by claiming that Britain will not contribute to the bailout fund.
British taxpayers have already contributed some £12 billion to the fund, to help bail out Greece, Italy and Ireland.
In other words, British taxpayers will indeed contribute to the bailout fund through the IMF. Mr Osborne is well aware of this, and is merely using semantics by saying there will be no “direct contribution” and is hoping that the public will remain ignorant of the true facts around the IMF’s involvement.
While the agreement reached in Brussels yesterday did not specifically mention the IMF, it is impossible for that body not to be involved in the so-called settlement.
Furthermore, as Bank of England chief Mervyn King has pointed out, the “settlement” so reached is at best a two –year or less “fix” and further bailouts will be required in around 18 months time.
In May this year, Portugal was given a €78 billion bailout by the EU and the IMF with the European Union and IMF. This was followed in June by a similar €110 billion bailout to Greece.
Britain has, of course, contributed to both these earlier payouts, despite currently running an annual deficit of over £170 billion.
British taxpayers will therefore be burdened with even further debt in the near future, no matter what false assurances are given by the ruling elite in Westminster.
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Well its his job to lie and decieve, if he told the truth the masses would wake up, thats why George Osborne goes to NWO Bilderberg meetings to get his instructions…
http://www.youtube.com/watch?v=aF-kdgI8UDc
Western economies will either have to print more hyper-inflationary debt or borrow from wealthier BRIC lenders – either way the dollar is in terminal decline because BRICS want a basket of reserve currencies backed with gold… to end US geopolitical hegemony and usher in an emerging Third World Order.
WWIII may slow the inevitable consequences – but will not stop the ultimate failures of globalisation… as Napoleon once warned “China is a sleeping dragon – when it awakes she will shake the world – so let her sleep”… seems the liberals were not listening.
Too Late Now 🙁