France confident Britain will support IMF eurozone bail-out

20th December 2011, Comments 0 comments

France still believes Britain will help fund a planned IMF eurozone bail-out once other world powers agree to chip in, a minister said on Tuesday, despite London's reluctance to take part.

Budget minister and government spokeswoman Valerie Pecresse told LCI television that Britain's reluctance was largely symbolic and predicted that Prime Minister David Cameron's government would fall into line

"I have no doubt that Britain, once a certain number of G20 countries agree to fund the IMF, will come to the IMF's aid," she said.

"What the British don't want is to specifically top up the eurozone, in which they are not members. But I think if it's a question of funding the IMF and solidifying the IMF, they'll agree," she added.

European Union leaders are trying to fill a 200-billion-euro ($260 million) war chest to loan to the IMF, which in turn would then be able to extend credit to eurozone countries struggling to fund their debts.

So far, only EU members have contributed, and Britain has made it clear that it will not help fund a scheme that is limited to the eurozone.

British officials have said, however, that if the fund was not specific to the eurozone and if rich emerging economies from outside the bloc take part, then London might find a way of participating.

© 2011 AFP

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