UK boycotts IMF eurozone rescue scheme; ECB bank warning

Britain has not joined with other European countries to provide 150bn euros (£125bn; $194bn) to the International Monetary Fund(IMF).

This is despite the European Central Bank warning the eurozone's stability was still under threat. Eurozone countries including Germany, Italy and Spain as well as several outside the eurozone gave their support to the scheme, which could help countries struggling to pay their debts. But Britain's decision not to take part meant EU finance ministers failed to reach their target sum of 200bn euro. The UK government wants an increase in IMF resources to be part of a broader process involving all G20 nations, the BBC reports. "The UK has always been willing to consider further re...