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 | Viva-MTS: Tech solutions to modernize infrastructure of border village The border village has been the focus of Viva-MTS and the Foundation for the Preservation of Wildlife and Cultural Values since 2015. Ucom's fixed network launched in Artashat To mark this occasion, the company has introduced a special offer exclusively for Artashat residents. “By Your Side”: IDBank's new support program for displaced Artsakh citizens IDBank is launching a long-term social support program for forcibly displaced Artsakh residents. The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. |