Asked if it was the Government’s position that when the mechanism ran dry we would not be the part of any future bailout in the EU area unless we chose to do a bilateral, the PMS said, yes. The mechanism had been agreed in early May and was agreed due to the exceptional circumstances at that time. When it came to a permanent mechanism it should be for Eurozone countries only. We were still a member of the International Monetary Fund and therefore there were multilateral routes by which we could support third countries.
Briefing took place at 15:45 | Search for related news
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