Britain cannot support EU stability fund: Darling

9th May 2010, Comments 0 comments

Finance minister Alistair Darling said Sunday that Britain cannot and will not support a European Union bailout fund to help struggling eurozone economies.

"I'm very, very clear that if there's a proposal to create a stability fund for the euro, that's got to be a matter for the eurogroup countries," he told Sky News television in Brussels, where he was attending an EU meeting.

"What we will not do and what we can't do is provide support for the euro... the responsibility for supporting the euro must be for the eurogroup members".

Darling added: "I think it's important that we do everything we can to stabilise the markets to show we're coming through what is a difficult period".

Talks are to take place on an EU bailout fund worth some 60 billion euros (76 billion dollars) to help indebted euro nations in the wake of the Greek financial crisis.

© 2010 AFP

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