U.K. wants to see color of euro zone’s money
DAVOS, Switzerland (MarketWatch) — U.K. Chancellor George Osborne said on Saturday that Britain would think seriously about providing further resources to the International Monetary Fund if the euro zone boosts its firewall against the sovereign debt crisis. “The euro zone needs to provide a significant increase in available resources,” Osborne said during a panel discussion at the World Economic Forum’s annual meeting in Davos. The U.K. will not be willing to contribute more to the IMF “unless we see the color of their [the euro zone's] money,” Osborne said. He added that concluding a deal between Greece and its private-sector creditors on a deb writedown is “fundamental” to achieving stability in the euro zone.
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