Svetlana wrote:British taxpayers could be forced to contribute to a multi-billion euro bailout of Greece's stricken economy as Europe's financial turmoil escalates.
Number 10 yesterday repeatedly refused to rule out joining a potential rescue plan ahead of a crucial Brussels summit today.
Helping to put cash into a shattered Eurozone economy would provoke huge embarrassment and anger at home, given the UK's own budgetary woes and the fact it is not a member of the single currency.
Storm clouds: Greece's stricken economy could need up to £21billion to rescue it
The Prime Minister and his aides spent the day dodging attempts to rule out a cash injection as French and German leaders began putting together a rescue plan.
Senior Government sources admitted the UK may have to pour more money into an International Monetary Fund pot for struggling economies if Greece asks for help.
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It is unclear how much will be needed to rescue the Mediterranean country, but estimates suggest up to £21billion. At today's summit Mr Brown will push behind the scenes to make the members of the euro carry the burden of helping the Greeks. 'We want to stay out of it if we can,' a senior official said.
But officials in Brussels made clear that the ultimate solution might involve a deal with funds injected by all 27 EU nations. That would leave Mr Brown with moral - and possibly legal - obligations to help.
Meanwhile, figures showed Greece's budget shortfall may be even worse than thought.
It may have been 16 per cent of gross domestic product last year, rather than 12.2 per cent, according to research from Goldman Sachs.
That amounts to a £33billion shortfall between tax receipts and spending, up from £26billion previously.
Also yesterday,
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In return, no doubt the Uk will be asking for Greece to send over the Acropolis to go with the Elgin marbles!
ucokka wrote:Foreigner? Like i said before, dont make an ass out of yourself by assuming! English man!
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