Euro zone needs single govt: Cameron

Last Updated: Wednesday, May 9, 2012 - 09:48

Zeenews Bureau

London: British Prime Minister David Cameron is reported to have advocated a single government for the euro zone if it has to be successful and work properly.

"There`s nowhere in the world that has a single currency without having more of a single government," Cameron told Britain`s Daily Mail.

"Making sense of the euro for me would mean that those euro zone countries would have to have much more co-ordinated economic policy, much more co-ordinated debt policy," he said.

The Cameron-led UK government had last year chosen to stay out of a new European economic agreement. The British PM had advocated that it was better for his country to stay outside the euro and stressed on its ability "to do things to ourselves, for ourselves, by ourselves”.

"I have always believed different countries at times will need different economic policies, interest rates tailored to their own needs."

Cameron, however, did add that growth in the euro zone was in the interest of Britain, as the economic zone accounts for 40 per cent of UK exports.

"We want them to sort out the problems that they have. We want to be in the single market, we want European co-operation, we don`t want to be in the euro," Cameron said.

"The euro is a project in transition that could go in a number of different ways ... all these countries have to make their own choices," he added.

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First Published: Wednesday, May 9, 2012 - 09:31

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