Tuesday
May112010
American Dollars Should Not Help Fund Greek Bailout, Says Pence
Tuesday, May 11, 2010 at 11:57AM
By Justine Rellosa
Talk Radio News Service
On Tuesday House Republican Conference Chairman Mike Pence (R-Ind.) issued a definitive 'no' on the U.S. contributing any financial assistance to Greece.
"Instead of putting American taxpayers and future generations at further risk by bailing out European countries...our country should be tending to our own fiscal crisis," he said. "Where did this administration get the impression that we have the money to be bailing out fiscal recklessness in the European Union?"
The International Monetary Fund (IMF), of which the U.S. is a member, has agreed to contribute $39 billion of the total $140 billion rescue package to help Greece avoid defaulting on its massive debt. Pence said he fears the U.S. would be on the hook for billions as its status as the IMF's largest contributor.
As a result, Pence said he will lead a coalition of Republicans in drafting a bill designed to prevent the U.S. from participating in bailing out nations in the "Euro Zone."
"The [legislation] would block any funding that has not been borrowed by the IMF, from being used by the IMF, to provide loans to any nation that uses the Euro as its primary currency."
Pence added that House Republicans are determined to oppose more bailouts forced on the American public.
Talk Radio News Service
On Tuesday House Republican Conference Chairman Mike Pence (R-Ind.) issued a definitive 'no' on the U.S. contributing any financial assistance to Greece.
"Instead of putting American taxpayers and future generations at further risk by bailing out European countries...our country should be tending to our own fiscal crisis," he said. "Where did this administration get the impression that we have the money to be bailing out fiscal recklessness in the European Union?"
The International Monetary Fund (IMF), of which the U.S. is a member, has agreed to contribute $39 billion of the total $140 billion rescue package to help Greece avoid defaulting on its massive debt. Pence said he fears the U.S. would be on the hook for billions as its status as the IMF's largest contributor.
As a result, Pence said he will lead a coalition of Republicans in drafting a bill designed to prevent the U.S. from participating in bailing out nations in the "Euro Zone."
"The [legislation] would block any funding that has not been borrowed by the IMF, from being used by the IMF, to provide loans to any nation that uses the Euro as its primary currency."
Pence added that House Republicans are determined to oppose more bailouts forced on the American public.
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