In These New Times

A new paradigm for a post-imperial world

George Osborne backs down on use of EU bailout fund in Greece crisis

Posted by seumasach on July 16, 2015

The planned grexit seems to have fallen through as Tsipras forgets his lines in this Greek drama. A good moment then for the Brits to quietly back off.

Guardian

16th July, 2015

George Osborne has backed down over the use of an EU bailout fund to give an emergency loan to Greece. But the chancellor said there would be an “impregnable ringfence” around the up to £850m of British money in the fund to prevent any losses to the taxpayer in the event of any default.

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