From CNBC today: it looks like the US taxpayer is on the hook for $50 Billion through the IMF for the recently-announced bailout of Greece. That’s based on America’s 17% quota on IMF funding. Canada’s IMF quota, according to this 2009 Canada IMF/World Bank primer, is 2.89%. That would leave the Canadian taxpayer on the hook for about US$8.6 Billion, or nearly $9 Billion Canadian monopoly bucks. $9 Billion to bail out the failed social welfare state of Greece, half a world away, with no chance of ever getting the money back.
Just thought you’d like to know – that’s $300 from the pocket of every man, woman and child in Canada.
UPDATE 5/14: Congressional Republicans have introduced a bill that will stop America’s $50 Billion IMF bailout. Will Canada’s Conservatives follow suit?