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[Nickbat]

Osborne last week: “Britain will not be putting money into the bail out fund either directly or through the IMF… the IMF exists to support countries, it does not exist to support currencies. The IMF contributing money to the eurozone bail out fund, no; Britain contributing money to the eurozone bail out fund, no. That is Britain’s clear position.”

This morning: http://www.bbc.co.uk/news/uk-15567919

Eurozone crisis: UK 'preparing to give more to IMF' The government is preparing to give more money to the International Monetary Fund to help struggling nations, including eurozone states.

Anyone else notice the subtlety being employed here? No, to contributing to the bail out fund, but yes to giving money to struggling eurozone states via the IMF.

Sheesh! 

[cleggy]

He's a politician what do you expect TRUTH ?

[Sir Tigger KC]

The thing is with our membership of the IMF is that we contribute to the fund in the same way as other countries.  That contribution as far as I know is in proportion to the size of the members economy, so Britain will contribute more than alot of countries but less than others....

The IMF then decides which member states need financial assistance, so today it might be Cambodia and Malawi, tomorrow it might be Greece and Italy or...... Britain!!  Britain was bailed out twice (I believe?) by the IMF in the 1970's...... 

As members of the IMF, the struggling Eurozone countries presumably have paid their IMF subs (  ) and therefore can receive financial assistance.  So George Osbourne is right when he says that the IMF exists to support countries not currencies.  As members of the IMF Britain has to pay it's dues.......