PM makes first Euro trip amid economic uncertainty
By politics.co.uk staff
David Cameron has insisted Britain was right not to adopt the euro currency on his first trip to the Continent as prime minister.
His comments come as uncertainty continues to stalk the markets, with the Greek crisis threatening to tip several economies back into recession.
On Wednesday, Angela Merkel, German chancellor, warned of “danger” to the euro without strong concerted action, although the rhetoric from Paris has been markedly more relaxed.
The euro fell to a four-year-low against the dollar this week.
Speaking opposite Ms Merkel today, the german leader admitted the two did not see eye-to-eye on all economic matters.
“At the moment of financial crisis we wish to work together as big nations,” she insisted.
“We need to keep in discussion with countries that don’t belong to eurozone as we live in common market.”
Conducting a press conference with French president Nicolas Sarkozy yesterday, Mr Cameron insisted Britain was better off outside of the eurozone.
“I think we were right not to join the euro and I think were right to stay out of the euro,” he said..
“But let me be absolutely clear, it’s in Britain’s interests that the eurozone is a success, that the euro is a successful currency, that the eurozone economies recover.”
Mr Cameron was careful to mention that Britain would not contribute towards the cost of any bail-out because it was not a member.
Mr Sarkozy insisted the European currency had been a success, but the two men put on a united front on other issues, including Afghanistan and Iran.
“From all the things we have discussed tonight, I think we can have a partnership that has a real purpose, that is very focused, that is very practical, that actually leads to results in the things that we both care about,” Mr Cameron said.
But when pressed this afternoon on Britain’s role in Europe, Mr Cameron struck a distinctly cautious tone.
“There is no question of agreeing to a treaty which transfers powers from Westminster to Brussels”, he said.
“Britain would not sign up to any agreement which would draw us further into the euro area”.
