John Ward – Official : The Eurozone Meltdown Has Hardly Got Going, But Already It Has Wiped Out 80% Of Osborne’s Savings –

British taxpayers have pumped £11.7bn into Greece, Ireland and Portugal through the IMF, an early European rescue fund, and a bilateral loan to Ireland.

That’s £4 out of every £5 of George Osborne’s half-hearted, misguided and much delayed (not really his fault) austerity plan blown away by the hubris of a euro we warned would fail, never joined, and yet somehow now have to help bail out.

Can anyone in Britain anywhere imagine a scenario in which Merkel, Van Rompuy, Barroso and Draghi would bail out the Pound?