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UK to euro zone "make up or break up"

Thursday, May 17, 2012 - 01:38

May 17 - UK Prime Minister David Cameron say he will do whatever is needed to protect Britain's economy and banks from a break-up of the euro zone.Rough Cut (no reporter narration).

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UK Prime Minister David Cameron addresses business leaders and pledges to do whatever is needed to protect Britain's economy and banks from a break-up of the euro zone. (SOUNDBITE) (English) BRITISH PRIME MINISTER DAVID CAMERON SAYING: "The euro zone is at a crossroads. It either has to make up or it is looking at a potential break-up. Either Europe has a successful, committed euro zone with an effective firewall, well-capitalised and effective banks, a system of fiscal burden sharing, a supported monetary policy across the euro zone or we are in uncharted territory which carries huge risks for everybody. As I have consistently said, it is in Britain's interest for the euro zone to sort out its problems. But people should be in no doubt - whichever path is chosen, I'm prepared to do whatever is necessary to protect this country and to secure our economy and financial system." (SOUNDBITE) (English) BRITISH PRIME MINISTER DAVID CAMERON SAYING: "We must resist dangerous voices calling on us to retreat. Yes we are doing all we can to return this country to strong, stable economic growth, but no we will not do that by returning to the something for nothing economics that got us into this economic mess in the first place. We cannot blow the budget on more spending and more debt. It would be to squander all the progress we made in the last two tough years. It would actually mean tough decisions lasting even longer. It would risk our future. It is not an alternative policy. It is a cop out."

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UK to euro zone "make up or break up"

Thursday, May 17, 2012 - 01:38