David Cameron tells Angela Merkel: act to save stricken economies now
David Cameron will warn Angela Merkel today that the eurozone's future is in grave peril unless she orders action within weeks to rescue struggling economies such as Greece and Spain.
The Prime Minister, who flies to Berlin today, will tell the German Chancellor of fears in Britain and the United States that delays in tackling the crisis could prove fatal to the currency's chances of survival.
He is backing French calls for eurobonds to be issued to allow Mediterranean countries to borrow at reduced rates. But the suggestion has run into strong resistance in Germany, among both politicians and the public.
Downing Street said yesterday that Mr Cameron and President Barack Obama, who spoke to each other on Tuesday, had agreed on the need for an "immediate plan" to deal with the eurozone's chronic problems. Mr Cameron's move is designed to increase pressure on Ms Merkel to agree immediate action at next week's G20 summit in Mexico ahead of a meeting of EU leaders in Brussels later this month. He runs the risk of irritating Berlin by appearing to lecture Germany over the future of a currency of which Britain is not a member.
But Mr Cameron's aides say he cannot avoid speaking out as the survival, and stabilisation, of the euro is essential for helping the economy to start growing again. Last month, the Prime Minister argued there was a "remorseless logic" to the eurozone's wealthier members helping those that were in trouble.
A Downing Street spokeswoman said yesterday: "The Prime Minister's view has always been that decisive action needs to be taken in order to underpin the eurozone. Confidence in the markets is essential, and in order to regain that confidence decisive action needs to be taken."
- 1 David Sedaris: What I learnt from Fitbit about the world around me
- 2 Saudis risk new Muslim division with proposal to move Mohamed’s tomb
- 3 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 4 Cee Lo Green: 'It's only rape if the victim is conscious'
- 5 Katie Hopkins in tears over weight gain challenge: ‘I hate fat people for making me do this’
Emma Watson on Jennifer Lawrence nude photo leak: 'Even worse than seeing women's privacy violated is reading the comments'
Jessica Brown Findlay: Downton Abbey actress is linked to list of celebrities targeted by hackers
Saudis risk new Muslim division with proposal to move Mohamed’s tomb
Ariana Grande nude photos leak: Pictures are completely fake, say representatives
Steven Sotloff 'beheading': British captive shown in Isis video which claims to show death of second US journalist
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Ashya King: Parents of five-year-old boy refused permission to visit him in hospital and denied bail at Spanish court
With Douglas Carswell joining Ukip, my party has taken another giant step forward
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
Ashya King: 'Cruel NHS has not given us the treatment we need', says father of five-year-old with brain tumour who fled to Spain
£20000 - £30000 per annum: Randstad Education Chelmsford: "Where teaching is e...
£120 - £162 per day: Randstad Education Hull: Female PE Teacher Required - Hum...
£120 per day: Randstad Education Luton: Year 2 Teacher to cover maternity leav...
£120 - £130 per day: Randstad Education Luton: Foundation Teachers required fo...