Sir Peter Tapsell MP in German IMF funds warning

SIR PETER Tapsell has said giving money to the IMF would be in effect giving it to Germany.

The Louth and Horncastle MP was speaking in the House of Commons during Prime Minister’s Questions.

He asked David Cameron: “May I put it to the Prime Minister that for Britain to commit still more funds to the IMF would, in effect, be providing a subsidy to Germany, because it is still not fully supporting its own currency, while benefiting from its depreciation?”

The Prime Minister replied: “My right honourable friend makes an important point. Our message has been clear: there should be no question of committing further IMF funds until the eurozone itself has shown it is comprehensively going to stand behind its own currency...the IMF’s role is to support countries not currency zones.”