Reuters - Video

Edition: US | UK | IN | CN | JP

video Video

Cameron's Merkel migration mission

Wednesday, January 07, 2015 - 02:07

The leaders of Germany and Britain meet in London to discuss G7 issues. But as Ciara Lee reports the topics which are not top of the agenda could be equally key for investors.

▲ Hide Transcript

View Transcript

Angela Merkel has her own immigration issues to deal with. She firmly condemned the weekend protest in Dresden over the Islamification of Germany. But that doesn't mean she'll be any more sympathetic to the UK's immigration issues. They're at the heart of David Cameron's call for EU reforms. He wants a curb on immigration from EU countries and an end to some benefits for migrants. With an election in four months he has a growing number of euro-sceptic voters to appease and wants German support. BGC's Mike Ingram thinks that's unlikely. (SOUNDBITE) (English) MIKE INGRAM, MARKET STRATEGIST, BGC PARTNERS, SAYING: "One thing which I think is definitely a red line for Germany is the principle of freedom of movement within the EU. I think they've made it quite clear that it is non-negotiable." The British Museum was Merkel's first stop - it's hosting an exhibition called Germany: Memories of a Nation. But this wasn't an occasion to reminisce - Merkel's focus was firmly on the G7 - Germany is hosting its next summit in June. They'll be plenty of major issues to discuss including Ebola, Ukraine and Greece, along with the global economy. (SOUNDBITE) (English) MIKE INGRAM, MARKET STRATEGIST, BGC PARTNERS, SAYING: "I guess Greece in a way might be a bigger problem if they did exit. And that would then prompt a queue of countries presumable led by Italy, looking for debt reduction. But I'd say all things being equal, Russia is a bigger problem to Merkel than Greece right now." It was the leaders first formal meeting in several months. They apparently get along fine - but when it comes to politics that counts for nothing. Merkel may be facing Eurosceptic challenges at home - with the rise of the AfD party - but she's ignoring them in the hope they'll fizzle out. That's not an option for Cameron - he's made too many promises already - including a referendum on EU membership should he win the next election.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Cameron's Merkel migration mission

Wednesday, January 07, 2015 - 02:07