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Cameron: Eurozone Leaders Must Take 'Decisive Steps'


British Prime Minister David Cameron

British Prime Minister David Cameron

Eurozone leaders must accept "collective responsibility" and take "decisive steps" to prevent economic disaster, British Prime Minister David Cameron has said in an interview with "The Financial Times."

He also called on France and Germany to bury their differences and to introduce a decisive plan to end the uncertainty before the end of the year.

"The situation with the world economy is very precarious...you either make the eurozone work properly or you confront its potential failure," he said.

Cameron urged European leaders to adopt a "big bazooka" approach to resolving the currency crisis, warning they have just a matter of weeks to avert economic disaster.

German Chancellor Angela Merkel and French President Nicolas Sarkozy said after talks on October 9 that a new comprehensive package for solving the eurozone debt crisis would be unveiled by the end of the month.

Cameron also called for credible stress tests on Europe's banks and said Britain's banks, including Royal Bank of Scotland, would pass them "if they are properly carried out."

Reuters
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