Conservatives Look to Block IMF Bailout of Eurozone
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While markets are benefiting from reports the IMF will be involved in a plan to provide an additional EUR200 billion in aid, if some Republicans get their way, IMF intervention will not happen at all.
The Hill reported Friday morning conservatives are crafting a bill to block the IMF from bailing out Italy and Spain, saying the move would leave U.S. taxpayer footing the bill.
Sen. Tom Coburn (R-Okla.) is one of the republicans planning a bill to block IMF involvement. Senate Republican Steering Committee Chairman Jim DeMint (R-S.C.) and Rep. Cathy McMorris Rodgers (Wash.) have a separate bill to do the same.
"We're throwing good money after bad down a hole that I think is not a solvable problem," Couburn was reported at saying.
The Hill reported Friday morning conservatives are crafting a bill to block the IMF from bailing out Italy and Spain, saying the move would leave U.S. taxpayer footing the bill.
Sen. Tom Coburn (R-Okla.) is one of the republicans planning a bill to block IMF involvement. Senate Republican Steering Committee Chairman Jim DeMint (R-S.C.) and Rep. Cathy McMorris Rodgers (Wash.) have a separate bill to do the same.
"We're throwing good money after bad down a hole that I think is not a solvable problem," Couburn was reported at saying.
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