Friday, December 23, 2011

Cameron urged to 'prepare ground' for euro collapse

Contingency plans for the collapse of the euro should be talked about more openly to "soften the blow" to the British public, a leading eurosceptic has said.

Conservative John Baron, the MP for Basildon and Billericay, wrote in a comment piece for that David Cameron needed to "publicly recognise" the possibility that the currency may not be rescued.

"Possible remedies should be more openly discussed," he argued. "This would do the country a great service. It would help prepare the ground and perhaps soften the blow if it comes. Publicly recognising reality would be both right and popular."

The prime minister has enjoyed unusual acclaim from his party's eurosceptic backbenchers after refusing to commit Britain to fiscal integration measures now being pursued by all other EU member states.

But today's article from Mr Baron represents one of the first eurosceptic moves after the Brussels summit to place further pressure on the PM.

He argued that measures to bolster the eurozone's credibility, including cuts to spending and making the European Central Bank the lender of last resort, are not long-term solutions. Read More