David Cameron clashed repeatedly with Nicolas Sarkozy today after the French President tried to exclude Britain and non-eurozone countries from a critical Brussels summit to rescue European banks.
During two hours of bitter exchanges during a meeting of all 27 EU leaders before a crisis summit of the eurozone’s 17 members on Wednesday, President Sarkozy fought hard to get the Prime Minister barred from talks that would finalise a 100billion euros cash injection into banks.
”We’re sick of you criticising us and telling us what to do. You say you hate the euro, you didn’t want to join and now you want to interfere in our meetings,” the French leader told Mr Cameron, according to diplomats.
Mr Cameron supports steps that the eurozone is taking to boost its banks and bailouts funds as part of wider moves towards closer fiscal union in order to avert a European debt crisis that has threatened to plunge the global economy into a slump.
But he fears that regular meetings of the euro’s 17 governments will lead to the creation of a Franco-Greman dominated “caucus” or a bloc that could hijack the EU’s single market for its own ends, damaging the British economy by imposing regulations that benefit Paris or Frankfurt over the City of London.
Is the wound in the EU turning into a deadly wound? Will this wound be healed by unplugging 3 horns?
It is surely getting interesting over there in Euroland.
Thanks to Romalynn for the link.