'Eurozone must make up or breakup'
17 May 2012 3:14 AM GMT
British Prime Minister David Cameron told eurozone leaders on Wednesday to sort out their debt problems soon or risk the collapse of the single currency as they grapple with the crisis in Greece.
Cameron's comments were his most pessimistic yet on the issue and are sure to annoy European leaders who were angered by the refusal last year of Britain, which does not use the euro, to endorse a new EU fiscal treaty.
'It either has to make up, or it's looking at a potential break-up,' Cameron said in his weekly question-and-answer session in parliament.
'That is the choice they have to make and it's a choice they cannot long put off,' he added.
'If the eurozone wants to continue as it is then it has got to build a proper firewall, it's got to take steps to secure the weakest members of the eurozone, or it's going to have to work out it has to go in a different direction.'
Fears that Greece could be forced out of the eurozone have rocked the financial markets after voters earlier this month deserted the main parties that had supported tough measures included in an EU-International Monetary Fund bailout.
Cameron's comments were his most pessimistic yet on the issue and are sure to annoy European leaders who were angered by the refusal last year of Britain, which does not use the euro, to endorse a new EU fiscal treaty.
'It either has to make up, or it's looking at a potential break-up,' Cameron said in his weekly question-and-answer session in parliament.
'That is the choice they have to make and it's a choice they cannot long put off,' he added.
'If the eurozone wants to continue as it is then it has got to build a proper firewall, it's got to take steps to secure the weakest members of the eurozone, or it's going to have to work out it has to go in a different direction.'
Fears that Greece could be forced out of the eurozone have rocked the financial markets after voters earlier this month deserted the main parties that had supported tough measures included in an EU-International Monetary Fund bailout.
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