–UK’s Cameron: Need To Take Decisive Action To Counter Debt Crisis

BERLIN (MNI) – German Chancellor Angela Merkel on Friday again
urged swift action to leverage the European Financial Stability Facility
(EFSF).

Speaking at a joint press conference with British Prime Minister
David Cameron here, Merkel cautioned, however, “not to pretend to be
stronger than we actually are,” because markets would see through that
quickly.

The Chancellor again pushed her idea of an EU Treaty change to
allow the Commission to put more pressure on members states breaching
the deficit rules.

Cameron acknowledged that the debt “crisis is affecting our
economy.” The Prime Minister urged that “we need to take decisive
action.”

Germany and the UK “both want to see a successful euro,” he
stressed.

On the contentious matter of a financial transaction tax, both
leaders said they favored the introduction of such a tax on the global
level. Yet, Britain still opposes the idea of introducing such a tax
only in Europe.

–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com

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