Menu
09/12/2011
PM Refuses To Sign-up To Euro Deal
The British Prime Minister has refused to sign a pivotal European plan to save the single currency and shore up the region's banks after ten-hour talks in Brussels on Thursday night.
In a press conference at 6.20am on Friday morning, David Cameron admitted the decision, which is expected to have long reaching consequences, was one that posed "risks" for the future while he cited "tensions within the European Union".
The Prime Minister (pictured) had gone into the meeting with a list of demands, including a refusal to decamp financial services regulation to the EU, the retention of the European Banking Authority in London and a refusal to make euro-denominated transactions take place within the eurozone. All of which were rejected by French President Nikolas Sarkozy.
During the press conference, Mr Cameron said: "I said before coming to Brussels that if I couldn't get adequate safeguards for Britain in a new European treaty, then I wouldn’t agree to it. What is on offer isn’t in Britain’s interests, so I didn’t agree to it.
"Of course, we want the eurozone countries to come together and to solve their problems.
"But we should only allow that to happen inside the European Union treaties if there are proper protections for the single market and for other key British interests."
At least 23 of the 27 member states will form their own treaty to begin tougher economic sanctions for ailing countries and restore confidence in the single currency. It is thought the deal could lead to a 'two speed' Europe, and that the UK's exclusion could be damaging if the new Euro plan proves a success.
Under the new agreement, Eurozone countries will provide up to €200bn in extra resources to the International Monetary Fund to help countries in difficulty. Meanwhile, the eurozone's two bailout funds, the European Stability Mechanism (ESM) and the European Financial Stability Facility (EFSF), will be managed by the European Central Bank.
(DW)
In a press conference at 6.20am on Friday morning, David Cameron admitted the decision, which is expected to have long reaching consequences, was one that posed "risks" for the future while he cited "tensions within the European Union".
The Prime Minister (pictured) had gone into the meeting with a list of demands, including a refusal to decamp financial services regulation to the EU, the retention of the European Banking Authority in London and a refusal to make euro-denominated transactions take place within the eurozone. All of which were rejected by French President Nikolas Sarkozy.
During the press conference, Mr Cameron said: "I said before coming to Brussels that if I couldn't get adequate safeguards for Britain in a new European treaty, then I wouldn’t agree to it. What is on offer isn’t in Britain’s interests, so I didn’t agree to it.
"Of course, we want the eurozone countries to come together and to solve their problems.
"But we should only allow that to happen inside the European Union treaties if there are proper protections for the single market and for other key British interests."
At least 23 of the 27 member states will form their own treaty to begin tougher economic sanctions for ailing countries and restore confidence in the single currency. It is thought the deal could lead to a 'two speed' Europe, and that the UK's exclusion could be damaging if the new Euro plan proves a success.
Under the new agreement, Eurozone countries will provide up to €200bn in extra resources to the International Monetary Fund to help countries in difficulty. Meanwhile, the eurozone's two bailout funds, the European Stability Mechanism (ESM) and the European Financial Stability Facility (EFSF), will be managed by the European Central Bank.
(DW)
Related UK National News Stories
Click here for the latest headlines.
01 June 2004
Beware 'extremists', Tories urge ahead of Euro poll
Tory leader Michael Howard has appealed to UK voters to reject "extremist" alternatives – such as the UK Independence Party – for June's European elections. Mr Howard is keen not to leak Eurosceptic votes to the UKIP and appealed for Conservatives to rally behind his party's vision of Europe - which he declared "puts Britain first".
Beware 'extremists', Tories urge ahead of Euro poll
Tory leader Michael Howard has appealed to UK voters to reject "extremist" alternatives – such as the UK Independence Party – for June's European elections. Mr Howard is keen not to leak Eurosceptic votes to the UKIP and appealed for Conservatives to rally behind his party's vision of Europe - which he declared "puts Britain first".
09 September 2003
UK trade gap narrows to £3.3bn
The UK economy has received a fillip today with the latest figures on global trade revealing that the trade deficit narrowed significantly in July. Economists forecast growth in the economy as a much hoped for rebound in the US economy and a recovery in the Eurozone countries is likely to fuel demand for UK goods and services.
UK trade gap narrows to £3.3bn
The UK economy has received a fillip today with the latest figures on global trade revealing that the trade deficit narrowed significantly in July. Economists forecast growth in the economy as a much hoped for rebound in the US economy and a recovery in the Eurozone countries is likely to fuel demand for UK goods and services.
28 May 2003
Labour defends its position on European Convention
Foreign Secretary Jack Straw said today that a new European constitution would "not significantly change" the relationship between the EU and its member nations, adding that it would be another year until the final version is finalised.
Labour defends its position on European Convention
Foreign Secretary Jack Straw said today that a new European constitution would "not significantly change" the relationship between the EU and its member nations, adding that it would be another year until the final version is finalised.
22 June 2012
Miliband To Shift Labour's Immigration Focus
In a speech later today Labour leader Ed Miliband will say his party “got it wrong” on immigration while in government. He will say Gordon Brown and Tony Blair should not have allowed uncontrolled immigration from new EU states in 2004.
Miliband To Shift Labour's Immigration Focus
In a speech later today Labour leader Ed Miliband will say his party “got it wrong” on immigration while in government. He will say Gordon Brown and Tony Blair should not have allowed uncontrolled immigration from new EU states in 2004.
26 October 2007
Cancer Jab Offered To Schoolgirls
Schoolgirls as young as 12 are to be offered a vaccination against a sexually transmitted disease which has been linked to cervical cancer from September 2008. It is believed that vaccinating girls against the human papillomavirus (HPV) before they become sexually active could help reduce the number of cases of cervical cancer.
Cancer Jab Offered To Schoolgirls
Schoolgirls as young as 12 are to be offered a vaccination against a sexually transmitted disease which has been linked to cervical cancer from September 2008. It is believed that vaccinating girls against the human papillomavirus (HPV) before they become sexually active could help reduce the number of cases of cervical cancer.
-
Northern Ireland WeatherToday:All parts will have a dry day with some bright or sunny spells, though high cloud will turn the sun hazy at times. A warm day with light winds. Maximum temperature 19 °C.Tonight:A dry evening with some pleasant late sunshine. Then staying dry overnight with some clear intervals, and some high cloud. Minimum temperature 11 °C.
