David Cameron: debt crisis in eurozone threat to world economyOctober 2, 2011 - 16:59 AMT PanARMENIAN.Net - UK Prime Minister David Cameron has warned that it would be "very bad" for the UK if the eurozone was to break up. Speaking to the BBC's Andrew Marr Show, he said the debt crisis in the eurozone was "a threat not just to itself, but also a threat to the UK economy, and a threat to the world economy". He reiterated that eurozone leaders had to take quick and decisive action. Mr Cameron said that, as 40% of UK exports went to the eurozone, it could not shield itself from the problem. The prime minister said the UK government had "a very clear view" of what needed to be done, and that it was pushing this with its partners in Europe and the International Monetary Fund (IMF). He said eurozone leaders had to strengthen the region's financial mechanisms, ensure the greater involvement of the IMF, and deal decisively with the high levels of sovereign debt. Mr Cameron added: "Action needs to be taken in the next coming weeks to strengthen Europe's banks, to build the defenses that the eurozone has, to deal with the problems of debts decisively." He said these emergency measures were needed before any long-term plans of more economic coordination across the eurozone were introduced, such as a single tax system, BBC News reported. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. U.S. welcomes efforts to define Armenia-Azerbaijan border The United States welcomes efforts to define the border between Armenia and Azerbaijan, says Vedant Patel. Biden honors resilience of Armenian people on April 24 U.S. President Joe Biden has issued a statement on the 109th anniversary of the Armenian Genocide. Ex-Karabakh leader moved to solitary confinement cell in Baku, his son says David Vardanyan is the son of former Karabakh leader Ruben Vardanyan who who is currently imprisoned in Azerbaijan. |