UK Osborne: UK Won’t Directly Contribute To Euro Zone Bailout

LONDON (MNI) – UK Chancellor of the Exchequer George Osborne said
Thursday that the UK will not directly contribute to eurozone bailout
funds but acknowled that the crisis will continue to draw strength out
of the UK’s already wheezing economic recovery.

“We’re very clear: we will not be contributing directly to the
special purpose vehicle,” Osborne told BBC Radio 4.

Osborne also said that the UK has its own economic problems to
resolve.

“We’ve got a large deficit and we’ve got to use that money to
recapitalise our own banks and support our own currency,” he said.

— London newsroom: William Wilkes 4420 7862 7491; e-mail:
ukeditorial@marketnews.com.

[TOPICS: M$$BE$,MABDS$]