To CaMoron and Osbum, it is FREE money to give away as it does not show on UK debt (the loan as an asset cancels out the debt) as the IMF has ALWAYS been paid back. But there is always a first time when the IMF is defaulted on and personally I think the Euro collapse will be it. Not only will we have to cope with a potential $500bn default on our banks, the fool brown sold most of our gold which we know hold as potentially worthless Euros. I don't know how much we will lose if the IMF isn't paid back, but it must be north of £60bn and of course we are part of a previous Euro bailout fund and we have loaned the ROI £15bn.
Still it is not their money they can always put taxes up to cover it.
When the Euro collapses and there is no alternative to this happening that is acceptable to Germany, then I suspect we will take, including the UK economy fallout, about a £1tn hit.
The US have been far more sensible, the last time the IMF went round with their begging bowl they pledged $200bn, but this was never approved by the Republican dominated congress, so they have not been given it, Canada has also said 'non'.
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Topic: £10bn (Read 2050 times)