Quote:
Originally Posted by Osem
I have a strange feeling that UK PLC will be forking out rather a lot of money very shortly.....
|
Well who'd have thunk it.
http://www.telegraph.co.uk/news/worl...-out-euro.html
Quote:
|
Britain faces paying out billions of pounds under a European Union deal intended to prevent another financial crisis like the one in Greece
|
Probably just as well this happened now and not before Thursday. Here are some of the highlights.
Quote:
All 27 EU finance ministers have been summoned to Brussels on Sunday to sign up to a “European stabilisation mechanism. Britain will be unable to veto this
Euro-zone leaders are attempting to get round objections from countries such as Britain by invoking Article 122 of the Lisbon Treaty, intended to enable a collective response to natural disasters
British exposure to liabilities created by a bail-out under the scheme would amount to around 10 per cent of the total loan. If a country failed to repay, the cost to Britain would be ¤10 billion (£8.6 billion) for every ¤100 billion on which it defaulted.
|