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The UK already had such a deal before the last round of bailouts, didn't stop the EU from going back on their word... http://www.telegraph.co.uk/finance/econom
by ZenoArrow 10y ago
The UK already had such a deal before the last round of bailouts, didn't stop the EU from going back on their word...
http://www.telegraph.co.uk/finance/economics/11737286/EU-demands-Britain-joins-Greek-rescue-fund.html http://www.telegraph.co.uk/finance/economics/11737286/EU-dem...
"Britain will be liable for close to £1 billion of emergency loans to Greece, it can be revealed, after Jean-Claude Juncker tore up a “black and white” deal to protect UK taxpayers from Eurozone bailouts."
"Britain pays around 14 per cent of the EU budget – meaning that lending Greece 8.6 billion euros would leave UK taxpayers exposed to the tune of around £850 million. The risk of default is high.
Yet Mr Cameron secured a binding written agreement with his counterparts at a Brussels summit in December 2010, explicitly prohibiting such a deal.
In exchange for British consent to treaty change to create the ESM, the text of the deal stated that the EFSM would not be used again to bailout Eurozone members."