Follow UK’s lead: Cameron to eurozone

Speaking at the G8 summit at Camp David, US President’s country retreat near Washington DC, Cameron called for strong contingency plans to be put in place to deal with the eurozone crisis.

“What is required is a sense of urgency and then clear actions for strong banks, strong deficit reduction plans, strong governance and strong contingency plans for whatever might happen,” said Cameron as he outlined what he believed could be a solution to the eurozone crisis.

“Clearly, just as Britain benefits from a strong government with a strong deficit reduction plan and strong banks but also an independent monetary policy giving us low interest rates, helping to push demand in the economy, so the euro zone I believe needs that approach as well,” he added.

Cameron’s advice to the European Central Bank comes as The Independent said “attempts by George Osborne, the Chancellor, to blame Britain’s return to recession on the eurozone crisis” failed as official figures revealed eurozone has avoided a double-dip recession.

Moreover, despite the Bank of England’s 1.1 percent annual growth rate for the British economy, the country’s economy has flat lined in the first quarter of 2012.

ISH/PKH/HE

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