44billion gab threatens eurozone crisis bailout A funding gap of nearly 44billion has thrown into doubt the future of a huge global bailout scheme to rescue troubled members of the eurozone, it has emerged.
The shortfall means more controversy for the scheme, unveiled with great fanfare on Friday and supposed to give the International Monetary Fund a 268billion war chest to fight financial crises. Chancellor George Osborne flew back to Britain last night to face severe criticism for having committed 10billion of taxpayers' money to the bailout package despite one of his key conditions for taking part not having been met. 'UK should contribute billions more to euro jimmy choo red sparkle shoes bailout fund' says IMF's Lagarde Outrage as Osborne pledges another 10bn of taxpayers' money to bail out the ailing eurozone DAN ATKINSON: Eurozone crisis is good for Britain Meanwhile, IMF managing director Christine Lagarde admitted hoped for contributors including Russia, China, India and Brazil had yet to pay into the scheme, despite their contributions having already been counted. Lagarde said the governments concerned had first to ensure their involvement was 'communicated properly back at home'. While the Treasury said it was confident that all those signed up would stick to their commitments, the current absence of these countries undermines the principle that the bailout scheme is supported by most leading economies. Officially, the money can be used anywhere in the world, but it is an open secret that the real purpose of the cash pile is to fight any flare up in the eurozone. Earlier this year, Osborne laid down four conditions for British participation in the bailout fund. Three have been met. The single currency area has beefed up its own fire fighting fund, there have been contributions to the new fund from other non eurozone members of the IMF and the new fund is not to be earmarked solely for the eurozone. But the fourth demand had been jimmy choo trainers black glitter that any country borrowing from the fund would face the same strict conditions that have applied in the past. In other words, there would be no soft loans to eurozone countries Most watched Money videos New wireless charging road charges electric vehicles on the move All you need to know about the new 12 sided 1 coin The world largest luxury car Machine in Singapore Investing Show: Will shares go off the boil or keep rising? Watch the production of the one millionth Porsche 911 Citron rolls out jimmy choo gold trainers the new DS7 Crossback as Macron car of choice New Beatrix Potter 50p coins unveiled including Peter Rabbit Rowdy stag do group thrown off Ryanair plane for fighting Time to invest in Europe? It not fixed, warns Tom Becket Investing Show: How are UK companies doing? Jeremy Corbyn refuses to play immigration numbers game Lib Dems unveil poster of Farage face superimposed on May head I have made 42 years of national insurance contributions:. Is it really safe to pay for parking on your mobile? No,. Beware EU health card salesmen who know all your personal. How you can save thousands with a new investing website:. Admiral hiding real price hikes: Thousands of customers. Cash Isa savers can still get a 4% return but top. The great annuity betrayal: Robbed of 65% of pension. Don't put off house sale until after the election: Estate. INVESTMENT CLINIC: I want to transfer 20k from my jimmy choo jeweled shoes cash. Barclays worst bank for blocking fraud claims: Bank. Have you been paying for your AA cover twice? Lloyds or. MARKETS LIVE: Marks Spencer investors on high alert. Could you cash in a dud annuity?: Insurance giants vow to. Hundreds of thousands of older couples set to miss out on. MARKET REPORT: Emergency home repair giant Homeserve hits. ALEX BRUMMER: The return of moderates in the Dutch.
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