Conservatives Seek to Block IMF Bailout of Europe

Friday, 02 Dec 2011 05:09 PM

By Dan Weil

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
There is talk that the International Monetary Fund (IMF) will play a greater role in bailing out beleaguered European economies such as Italy and Spain. And conservative congressmen are working to see to it that doesn’t happen, The Hill reports.

The worry is that U.S. taxpayers will be on the hook in a major way, as the United States is the biggest contributor to the IMF, providing about 17 percent of its budget.

Sen. Tom Coburn, R-Okla., says he plans to introduce legislation telling the Obama administration to veto an enlarged role for the fund.

conservatives imf bailout europeSenate Republican Steering Committee Chairman Jim DeMint and Washington Rep. Cathy McMorris Rodgers, a member of the House Republican leadership, are set to introduce such legislation too.

“I’m adamantly against the IMF being involved in this,” Coburn said. “We’re throwing good money after bad down a hole that I think is not a solvable problem.”



© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Expert: Immigration Order a Political Gamble for Dems

Friday, 21 Nov 2014 13:29 PM

President Barack Obama's decision to make an executive order on immigration amounts to a dangerous gamble for Democrats  . . .

Rep. Aaron Schock: Obama's Action Destroyed Trust

Friday, 21 Nov 2014 10:39 AM

President Barack Obama destroyed trust with Republicans by moving forward with an executive order on immigration that wi . . .

GOP Presidential Hopefuls Join to Denounce Amnesty, Promote Reform

Friday, 21 Nov 2014 08:15 AM

The prospective field of GOP presidential hopefuls has found one thing they agree on:President Obama is wrong to take ex . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved