{"id":568532,"date":"2010-05-18T10:52:55","date_gmt":"2010-05-18T14:52:55","guid":{"rendered":"http:\/\/www.prisonplanet.com\/congress-blocks-indiscriminate-imf-aid-for-europe.html"},"modified":"2010-05-18T10:52:55","modified_gmt":"2010-05-18T14:52:55","slug":"congress-blocks-indiscriminate-imf-aid-for-europe","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/568532","title":{"rendered":"Congress blocks indiscriminate IMF aid for Europe"},"content":{"rendered":"

Via Prison Planet.com \u00bb Commentary<\/p>\n

Ambrose Evans-Pritchard
\nLondon Telegraph<\/a>
\nMay 18, 2010<\/p>\n

Europe may have to clean up its own mess after all. The US Senate has voted 94:0 to block use of taxpayers\u2019 money for IMF rescues that make no economic sense or bail-outs for countries like Greece that far are beyond the point of no return.<\/p>\n

\u201cThis amendment will help prevent American taxpayer dollars from underwriting dysfunctional governments abroad,\u201d said Texas Senator John Cornyn, the chief sponsor. \u201cAmerican taxpayers have seen more bailouts than they can stomach, and the last thing they should have to worry about are their hard-earned tax dollars being used to rescue a foreign government. Greece is not by any stretch of the imagination too big to fail.\u201d<\/p>\n

Co-sponsor David Vitter from Louisiana said America had run out of money. \u201cOur country already owes trillions of dollars in debt. We simply can\u2019t afford to take on other countries\u2019 debt in addition to our own.\u201d<\/p>\n

It is unclear where this leaves the EU\u2019s $1 trillion \u201cshock and uh\u201d package. Urlich Leuchtmann from Commerzbank said the IMF share of $320bn was the only genuine money on the table, the rest being largely euro smoke and mirrors, or plain bluff.<\/p>\n

The measure is an amendment to the US financial overhaul law<\/a>. Backed by both parties, it can hardly be ignored by the Obama administration whatever Tim Geithner may or may not want to do. The bill has to go to Conference for reconciliation with the House, but the point is made.<\/p>\n

Full article here<\/a><\/strong><\/p>\n

\"Congress<\/a><\/p>\n

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