Letter: A waste of £10bn

OUR Chancellor, George Osborne, has agreed to lend the IMF a further £10 billion to prop up the failing member states of Europe from complete collapse when it is widely recognised that countries like Greece will never survive in the eurozone in the long term and will be forced to default in the end.

There is no pot of money big enough to bail out all the European countries that are now in financial mayhem, and by lending a further £10bn of the UK’s limited funds it is simply chasing good money after bad and makes absolutely no sense.

The money should have put to better use by helping those families that are now caught in the fuel poverty trap, while also facing further cutbacks in state welfare payments.

DENNIS GRATTAN

Mugiemoss Road

Bucksburn

Aberdeen

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