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ACT NOW: Why did the UK side with vulture funds at the UN?

UN delegates applaud as the resolution passes at the General Assembly on 9 September.

UN delegates applaud as the resolution passes at the General Assembly on 9 September.

On 9 September the UK was one of a handful of countries which voted AGAINST action to stop vulture funds at the UN General Assembly.

The vote passed by 124 to 11, with developing nations queuing up to demand a fairer system for resolving sovereign debt crises without fear of vulture funds swooping in.

The UK’s vote represents a very disappointing u-turn following its previous international leadership on vulture funds. George Osborne, the Chancellor, and Danny Alexander, the Chief Secretary to the Treasury, were responsible for the decision.

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