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Cameron Says Euro Crisis Requires ’Urgent Action’

Thursday Jun 7, 2012

BERLIN (AP) - Britain's prime minister is urging eurozone nations to act swiftly and take bold steps to tackle the crisis engulfing their single currency.

David Cameron, speaking alongside German Chancellor Angela Merkel, said that "urgent action is needed to deal with the market uncertainty."

He says the eurozone must become yet more integrated and consider more joint liability, such as a banking union.

While he stressed further integration was crucial for the currency bloc's stability, he left no doubt that Britain - which doesn't use the euro - expects the eurozone to tackle its own problems. He said he could not ask British taxpayers to guarantee "Greek or Spanish bank deposits."

Merkel stressed European nations must trim their debt burden in order to create more jobs and achieve sustainable growth.

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  • , 2012-06-09 11:05:54

    Merkel ’s assertion that Greece and Spain must continue austerity measures to stimulate the economy and create jobs. That’s a load of bunk! Greece is in its 5th straight year of austerity and the economy and job market are continually shrinking.

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