David Cameron to prioritize Britain in euro crisis

This article was last updated on April 16, 2022

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Prime Minister, David Cameron has today asked for action from eurozone states and institutions to put more effort help weaker economies like Greece or else get ready to view the single European currency break up.

Mr. Cameron has said he will try everything to protect the country and secure the economy and financial system despite the fate of the eurozone. He is due to hold a conference call with the French leader, François Hollande; the German Chancellor, Angela Merkel and the Italian Prime Minister, Mario Monti, this afternoon to “explore new options” to arrive at a solution to halt crisis. Before meeting, Mr. Cameron has issued a blunt warning that Eurobonds may be needed to “put an end to speculation about the future of the euro”.

Mrs. Merkel is against the bonds, which are collective debt issued by the European Central Bank, raising money to support bail out struggling countries.

They are being controversial because the debt would be created by the Eurozone as a whole, which would mean richer countries bearing greater risk than the poorer countries.

In his address to Manchester business leaders, Mr. Cameron has defended the government’s series of welfare cuts and tax rises saying it was the right policy to cut the deficit. The PM has told the euro area was now at a “crossroads”, and must either “make up”, or face “a potential break-up”.

Labour alleges the coalition for the prevailing recession, however the PM is still claiming of U.K. on being at the right economic course. The Labour leader, Ed Miliband has stated: “He is the prime minister – he should be getting in there, getting it sorted out with Europe’s leaders. Sorting it out means not just sorting out the eurozone problems, but getting that proper plan for growth in Europe, just like we need a proper plan for growth here in Britain. The prime minister should be showing leadership, not looking like a man who is a bystander to events, shouting from the rooftops.”

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