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European Council

My Lords, can my noble friend the Leader expand a little on paragraph 26 of the Council conclusions on contributions to the IMF funds? I think I am right in saying that the G20 agreed that the amount of funds for the IMF should be reviewed; that the review came up with the need to double them and that this doubling would cost Britain about £10 billion, but that this £10 billion does not count as part of public spending because it is merely a guarantee rather than a cash payment. Am I right in thinking that HMG will be favourably disposed to playing their part—the part I have just described—in the increase in the IMF funds, assuming that 70 per cent minimum collaboration is achieved, but that if there was a special fund to rescue the eurozone by producing funds through the IMF, as is slightly referred to in paragraph 26, Britain would not contribute to that?