Tuesday April 24,2012 By Daily Express Reporter

http://www.express.co.uk/posts/view/316215/George-Osborne-accused-of-money-laundering-to-prop-up-euro

GEORGE OSBORNE was accused last night of “state-sponsored money laundering” for his decision to plunge an extra £10billion into propping up the euro.

The Chancellor faced an angry backlash in the Commons from Tory backbenchers after agreeing an extra loan to the International Monetary Fund.

And he was accused of “running scared of both sides of this House” by Shadow Chancellor Ed Balls after refusing a vote on the IMF loan pledge.

Mr Osborne defended his move to raise the commitment to nearly £40billion – though he conceded that the cash could be used to aid debt-hit eurozone nations such as Spain, Greece and Portugal.

Tory MP Stewart Jackson told him: “This is state-sponsored money laundering to prop up the failed European project called the euro.”

Fellow Conservative MP Peter Bone added: “It is bonkers to pour billions of taxpayers’ money into supporting the failed euro.”

Labour urged Mr Osborne to reverse his decision – with Mr Balls claiming: “It will not speed up but further delay the decisive action we need from European leaders to kick-start growth.”