Whilst we are all aware that it is in our national interest that a lasting solution to the Eurozone crisis is found, I am pleased that George Osborne announced last week that Britain would not be contributing British tax-payers money to the Eurozone bail-out fund nor allow the IMF to put money into the special scheme designed to bail-out the Euro economies.

 

The break-up of the euro would be an overwhelming threat to Britain’s prosperity and sorting out the crisis is not going to be easy.  But I believe that further financial aid from Britain, at a time when we are dealing with our own deficit, would not be the right move for the country.

 

The Chancellor is determined that Britain’s voice will still be heard and we will remain an active member of the IMF, aiding with advice and technical support to countries that need it.  But we will not cough up more of British taxpayers’ money for the euro bailout when our own economy is under immense strain and we must use our own resources to recapitalize our banks and firm up our currency.

 

This is absolutely the correct approach to take.  It is vital that we keep control of our nation and put Britain's interests first in all of our international relationships.

 

I hope that, in the not too distant future, we will be in a position to change the terms of our relationship with Europe and I congratulate our Chancellor for taking such a firm stance.