Cameron defends outspoken approach to Eurozone debt

The prime minister of U.K has defended is increasingly vocal approach to the Eurozone crisis and said that it would be more dangerous not to speak out. Speaking at the NATO summit held in Chicago on May 20th and 21st Mr. David Cameron said that his contributions have been constructive and in Britain’s national interest.

He has warned Eurozone leaders and told them to draw up proper contingency plans in order to break up the single currency. He also alerted the Greek voters that their elections which are going to be held next month are a referendum on euro membership. At the summit he said that the problems faced in the Eurozone matter to the United Kingdom and that being silent on the problems would be more dangerous as they need to be resolved. He further added that he commends the steps that have been taken to make the economies more competitive and address the issues, to make them stronger by building firewalls and by recapitalizing the banks yet there’s more to be done to decisively resolve the crisis. He argues that the British contribution to the debate has been very constructive and that they have been involved in the problem solving process and not turned their back on the crisis. he said, “We have consistently set out the things that we think need to be done, whether that is firewalls, bank recapitalization, a more active policy on behalf of the ECB looking towards Eurobonds for the future. These are important points.

So I judge that it would be more dangerous to stay silent and to say there is nothing we can do about this, no contribution we can make. I would argue in some ways Britain has helped to promote a healthy debate about what needs to be done. That has obviously continued at the NATO summit as well as at the G8”.

In conclusion he said that the issues need to be resolved quickly and effectively in a comprehensive way so that the Eurozone will be able to return to growth which will have a positive impact.

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