Following a conference, European Union finance ministers said currency zone outsiders the Czech Republic, Denmark, Poland and Sweden would also grant loans to the International Monetary Fund to help save the zone. However, the EU said those lenders must first win parliamentary approval, while Britain made it clear it would not participate in the plan.
That leaves the euro zone more reliant than ever on major economies such China and on Russia, which has shown willingness to lend more to the IMF. The United States for its part is concerned about the lender‘s exposure to the euro zone.
Further complications have arisen on the IMF loan, as British officials have made it abundantly clear that money from the United Kingdom will not likely be part of the IMF, “We were clear that we would not be making a contribution,” one Treasury source said, while another added that there was “no agreement on the 200 billion” euro funding boost.
The EU was more diplomatic, however, saying in its statement that London would take a decision on the issue early in the New Year in the framework of the Group of 20 economies.
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