States ‘won’t allow euro collapse’
Prime Minister David Cameron has said the euro will not collapse because member states ‘will not allow it to’
Prime Minister David Cameron insists the euro will not collapse because member states “will not let it”.
The 17 eurozone nations have too much invested in the single currency to allow it to fail, he told a press conference at Downing Street.
It comes after former foreign secretary Jack Straw insisted it could not survive and called for a speedy demise rather than a “slow death”.
But Mr Cameron said: “I was passionately opposed to Britain joining the eurozone and I’m very clear as long as I’m Prime Minister there is no prospect of us even contemplating joining the euro.
“I’ve always believed that a country the size of Britain, with our economy and our situation, it’s much better if you have your own currency, are able to set your own interest rates because sometimes different countries in Europe need different interest rates in different circumstances.
“The countries that joined the euro have an enormous amount invested in it and do not want it to, and will not let it, fail. They see it as an absolutely key part now of their national interest and identities and I would not doubt their resolve in any way.”
EU finance ministers are refusing to hand the Greek government a second bailout package of 12 billion euro unless it agrees to implement a 28 billion euro (£24.8 billion) set of austerity measures which include tax increases and massive spending cuts.
Finance ministers meeting in Luxembourg put off until July 3 a final decision on the loan instalment, without which Athens would be forced to default on its debts.
Mr Cameron said he “wished the Greek government well” but did not want to see the European financial mechanism used to help prop it up.
Britain was not involved in the initial bailout so should not be involved in subsequent bailouts, he said. “It would be quite wrong now to bring Britain into this bailout,” he added.
Comment by Adamantine:
Given that Britain was or is part of the ten nation WEU but not part of the seventeen nation euro zone group it would appear that the type of event which would give rise to such drastic changes is far more likley to be a military difficulty.
One could imagine a financial turmoil which tears apart the eurozone and then threatens to tear apart the EU as a whole which then requires some combination of nations to have the resolve to militarily support the European Union.
For this to be prophetic three of the WEU nations would need to be among those first uprooted and the remaining seven WEU nations would need to be among the remaining nations that then give power over to the Beast.
Hence while the crisis which leads to the uprooting might be initially financial the actual uprooting is more likely to be military.
Events on the ground in Europe today and the vary concept of UPROOTING (related to radix) as described in Biblical terminology suggests and requires strength as seen in a military response.