Belfast Telegraph

Thursday 21 August 2014

Chancellor George Osborne wary over Greek bailout plan

George Osborne

Chancellor George Osborne has left the door open for a British-taxpayer funded bailout for Greece.

The country's economy is struggling, with experts warning it may be forced to quit the single currency.

Others say Greece's economy will be unable to survive without a financial rescue package from either the European Union or International Monetary Fund — with some cash likely to come from Britain.

Mr Osborne told the Andrew Marr Show: “We certainly don't want to be part of any bailout of Greece. There are some very difficult questions Greece has to address.”

Mr Osborne said the Government was “reluctant partners” with the European Union's rescue package for Portugal, agreed by his predecessor Alistair Darling in the days following last year's general election before the coalition was formed.

“We have to live with that,” Mr Osborne said.

He said the situation was different from the Irish bailout agreed earlier this year, adding: “I can't see us ever writing a cheque directly from the British taxpayer to the Greeks or the Portuguese.”

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