Can someone fill me in on Cameron and his rescue package for Europe

[sakura]

I've been out of the UK for ages,and I'm completely out of the loop, but the last I heard Britain was in loads of debt, which meant that the government had to make lots of drastic cuts, such as:
*Removing funding from the Poppy Project (an organization which helps women exit prostitution)
*Removing funding from terminally ill patients if they take too long to die
*Removing funding from carers of the disabled
*Removing funding from parents in general etc etc.

So why is it that I've just found a Telegraph article saying that Cameron is planning on bailing out Europe with a rescue package of billions of pounds?

Is the Telegraph bullshitting? (Is it known to lie?)
Is Cameron bullshitting (about the rescue package) to make himself look good? (and if so, to whom?)
Or, was the British public duped into believing the country was in dire straits, when in fact the Tories just wanted to squeeze the last drop of blood out of the proletariat?

Any comments welcome, as I am sincerely confused.

Isn't that an old article? Looks like it's been written months ago.

As I said, I'm out of the UK, so not sure how things have changed. Is it no longer news?

Cameron and Osborne have indicated that there won't be any additional funds for the IMF unless/until the Eurozone ponies up more money. They also said that any additional contribution to IMF funds needs to be not specifically for the Eurozone.

Things have moved on significantly since November, including another G20 meeting in Mexico last week, where this stance was reiterated.

The country is in dire straits - try reading the Finance section of the DT today, rather than from last year. I don't live in the UK either, but I manage to read the DT everyday.

This country is in dire straits. The problem is that so are our neighbours. Some even worse.

So think of Europe as a row of terraced houses. Your Greek, Spanish, Italian & Portugese neighbours are all worried their house will collapse. Your house is also not in good condition.

The question is not can you afford to help them out but can you afford not to? If their house collapses, what is the impact on your house?

The UK position now is essentially "we'll help out only if you put more money in the pot yourself". Sounds reasonable to me.

Thanks scaryteacher and niceguy2!