Wednesday 7 December 2011

David Cameron is struggling to deal with the Eurozone

David Cameron said he would not sign any treaty that doesn’t safeguard Britain's financial services, particularly the position of the City of London. 
This has left him under pressure from European partners and from Conservative collegues.

The French President Nicola Sarkozy and the German Chancellor Angela Merkel are pushing for a new EU treaty to rescue the single currency. The solution to the EURO debt crisis is a change in the financial and political union.

Prime Minister David Cameron threatened to wield Britain's veto to block a revision of the Lisbon treaty if fellow European leaders refuse to protect UK national interests, such as the importance of the single market and financial services.

He said he would be there "to defend and promote British interests", but stressed that the most important thing for Britain right now was to resolve the eurozone crisis.

Tory Eurosceptics claim that the EU summit, which is designed to deal with the eurozone crisis, allows more intrusive controls of national budgetary policies by the EU".

Kenneth Clarke, the veteran pro-European justice secretary, warned Tories not to expect "any transfers of powers " to the UK from the EU.

Europeans leader are going to discuss plans at a summit in Brussels this week.

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