"The eurozone debt crisis is set to spread and deepen next year, senior central bankers warned on Monday as Britain refused to contribute to the latest International Monetary Fund (IMF) bailout fund for distressed states.
A proposal to lend €200bn (£168bn) to the IMF to enable it to bail out countries in trouble floundered after George Osborne told his fellow European finance ministers that Britain would not contribute its £25bn share."
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