Conservatives Seek to Block IMF Bailout of Europe

Friday, 02 Dec 2011 05:09 PM

By Dan Weil

  Comment  |
   Contact  |
  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.

  Comment  |
   Contact  |
  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.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Allen West Says Goodbye to Florida at Holiday Party

Saturday, 20 Dec 2014 08:49 AM

Tea party hero Allen West is making his final Florida appearance before moving to Texas. . . .

Rep. Mike Kelly Offers Obama 'Lump of Coal for Christmas'

Saturday, 20 Dec 2014 07:50 AM

All forms of energy in the United States should be developed to spur job creation and economic growth, Pennsylvania Repu . . .

Politico: Obama May Give Dems 80 Percent of 2016 Latino Vote

Friday, 19 Dec 2014 19:18 PM

President Barack Obama may be on track to helping deliver as much as 80 percent of Latino voters to the 2016 Democratic  . . .

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