The government is willing to give more money to International Monetary Fund that could help struggling Eurozone nations.
Prime Minister David Cameron will meet with leaders of the G20 in France to discuss the crisis in the eurozone. He proposes measures to strengthen the G20 group of nations. He said that it has become even more urgent to put meat on the bones of this plan to show that we’re removing one of the key obstacles to global growth, which is the failure to agree a proper plan to deal with problems in the eurozone. The UK currently provides £29bn ($46bn) of the IMF’s £600bn ($950bn) lending capacity.
Efforts of France and Germany have warned that the next 8bn euro (£7bn) of rescue loans for Greece will be withheld until after a bailout referendum, expected in early December.
The International Monetary Fund, to which Britain is the largest contributor, made clear its willingness to intervene and improve the bailout fund in the euro area.
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