Britain is not about to be billed for bailout billions

By Bagehot

WHEN David Cameron became prime minister, it is a fair bet he did not expect to find himself parsing articles of the 2003 Nice Treaty with his own backbenchers in the House of Commons, setting out the voting rules governing the activation of an emergency European Union mechanism designed to send aid to member countries hit by earthquakes or other unexpected catastrophes, but this time in the context of a putative financial bailout for Portugal.

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