EU, Union of Debt: Czech Premier

‘Bulgaria’s Prime Minister Boyko Borisov and his Czech counterpart Peter Necas have said that their countries no longer have plans to join the European Union since, as Necas says, it is a “union of debt.”

The two prime ministers met at a Bulgarian-Czech business forum in Prague on Tuesday and spoke at a joint press conference after deciding not to set an entry date to join the euro common currency, with the Czech PM calling the EU a “union of debt,” Bloomberg reported.’

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UK Families Face £5,000 Bill Each to Bail Out Debt-Stricken Euro Nations

‘Britain could be asked to find £115billion to rescue debt-stricken countries – nearly £5,000 per household.

Fears were growing last night that the International Monetary Fund might not have enough cash for a global bailout of struggling economies. Its crisis fund may need to grow ten-fold – meaning a huge increase in contributions from the UK.

Christine Lagarde, the managing director of the IMF, said the current war chest of around £250billion ‘pales in comparison with the potential financing needs of vulnerable countries’ and needs to be expanded to deal with ‘worst-case scenarios’.’

Read more: UK Families Face £5,000 Bill Each to Bail Out Debt-Stricken Euro Nations