EU plan nonsense, says Cameron
Source: Telegraph.UK
DAVID Cameron has promised to ''protect'' Britain from German plans for a eurozone superstate with common banking and political systems.
The British Prime Minister dismissed as ''nonsense'' a suggestion from Angela Merkel, the German Chancellor, that the European Union should eventually have a single national identity.
Underlining the sceptical message, British Chancellor George Osborne signalled Britain was prepared to veto a new EU treaty unless it included safeguards. But Mr Cameron and Mr Osborne accepted that the only way to resolve the eurozone crisis was deeper integration between the 17 countries using the single currency, including a new ''banking union''.
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At a joint press conference with Mrs Merkel, Mr Cameron pledged to prevent that, insisting the eurozone members would not be allowed to work against Britain's economic interests. ''I understand why single currency countries have to look at deeper integration. What I will do is make sure that Britain's interest, particularly in the single market, is protected,'' he said.
Read more: http://www.smh.com.au/business/eu-plan-nonsense-says-cameron-20120608-201jo.html
