David Cameron urges 'decisive steps' on eurozone crisis
Monday 10 October 2011
David Cameron has called on Europe's leaders to take "decisive steps" to solve the financial crisis that is sweeping through the eurozone and putting the world economy in a "precarious" situation.
The Prime Minister also told member countries of the Euro they had a "collective responsibility" to avert economic disaster.
"The situation with the world economy is very precarious," he told The Financial Times.
"The eurozone is probably contributing more to that uncertainty and lack of confidence than anything else. You either make the eurozone work properly or you confront its potential failure."
During last week's Conservative Party conference Mr Cameron warned that the world economy was at a "moment of danger" and has been pushing for European leaders to take decisive action along with Chancellor George Osborne.
"I think we need to push, but in the end it is their currency, it is their issue - they have to take the decisive steps," said the Prime Minister.
"I don't underestimate the difficulties. But if you're in the Euro you have accepted some collective responsibility."
Mr Cameron also called on France and Germany to bury their differences over how to recapitalise Europe's banks.
The two countries, who together represent about half of the 17-nation currency zone's economic output, have so far disagreed on the course of action to take.
France has indicated its desire to immediately call the eurozone's newly strengthened 440 billion euro (£378 billion) bailout fund into action, while Germany has insisted the fund should be used as a last resort.
However, following a summit in Berlin over the weekend, Angela Merkel, the German chancellor, and France's President Nicolas Sarkozy yesterday announced they had agreed a plan to strengthen the shaky banking sector.
Merkel said the European neighbours "are determined to do the necessary to ensure the recapitalisation of Europe's banks" and would announce details of the package before the G20 summit in Cannes, France, next month.
Board creates magnetic field to achieve lift
Singer says the track was 'force-fed down people's throats'
Endangered species spotted in a creek in the Qinling mountains
Company says data is only collected under 'temporary' identities that are discarded every 15 minutes
Trend which requires crisps, a fork and a strong stomach is sweeping Mexico's streets
George Lucas criticises the major Hollywood film studios
Some experiencing postnatal depression don't realise there is a problem. What can be done?
- 3 Drink alcohol and eat meat to improve male fertility - but cut down on coffee, studies suggest
Ukraine crisis: Donetsk 'tactical missile' explosion at factory sends blast wave across rebel-held city
Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
Banksy arrest hoax: Internet duped by fake report claiming street artist's identity has been revealed
Super-sized ships arrive in Britain: How big can they get?
Former East 17 frontman Brian Harvey turns up at Downing Street and 'demands to speak to Prime Minister'
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Russell Brand threatened with arrest after filming outside Fox News headquarters
Residents should throw a street party and mix with immigrant neighbours, councils told
Amal Alamuddin calls for the return of the Elgin Marbles from Britain: 'Injustice has persisted for too long'
London bus driver 'kicks gay couple off for kissing'
Lord Freud: Tory welfare minister apologises after saying disabled people are 'not worth’ the minimum wage
£23000 - £26000 Per Annum: Clearwater People Solutions Ltd: Our client is curr...
£110 - £150 per day: Randstad Education Preston: Are you a qualified Teacher w...
£60 - £70 per day: Randstad Education Preston: The Job:* The Tutor will prepar...
Negotiable: Randstad Education Preston: Qualified Teaching Assistant Jobs in B...