Wednesday, September 7, 2011

Eurozone should become United States of Europe, by David Cameron - "That's easy for you to say, you don't have to be part of it'

David Cameron was branded an EU ‘enthusiast’ by Tory Eurosceptics last night as he said Britain must let eurozone countries move towards a United States of Europe with a common economic policy.

The Prime Minister admitted he was not sure whether Germany and other countries had the political will to prevent a break-up of the single currency, but insisted they must be allowed to try – even if that meant closer integration.

The tumult on global financial markets intensified yesterday ahead of a crunch ruling by the German constitutional court on the legality of bailouts for debt-crippled nations.

Mr Cameron, appearing before MPs, repeated his pledge that Britain would never join the euro while he is in charge.

But he and the Chancellor have reversed decades of opposition to a two-speed Europe, in which Britain and others would stand apart from a closer-knit inner core of nations.

George Osborne yesterday urged governments in the single currency nations to follow the ‘remorseless logic’ of further financial fusion. Read More