LONDON (MNI) – The measures for Greece agreed at the recent EU
leaders’ summit should be implemented sooner rather than later and the
Greek decision to hold a referendum on the EU bailout is just fueling
uncertainty, Chancellor of the Exchequer George Osborne told parliament
Tuesday.
Osborne said that the 17 members of the euro zone would, and
should, press ahead with greater fiscal integration, while the UK would
stay out of it and seek to ensure that single market and regulatory
matters are decided at an EU-wide level.
“It is extremely important for the euro zone to implement the deal
that they agreed last week. That is what I said was crucial at the time
and that is what they all said was crucial at the time and I think we
need to get on with it sooner rather than later,” Osborne said.
The Treasury head said that a lasting resolution of the euro crisis
“requires, among many other things, greater fiscal integration in the
euro zone as they follow the remorseless logic of monetary union.”
“We have made it clear that Britain will not be part of that fiscal
integration, and issues that affect Britain like the single market and
financials services regulation, must continue to be decided at an EU
level,” he added.
Osborne criticised the Greek decision to hold a referendum for
adding to instability, but said it was up to the Greek’s to decide what
to do in domestic politics.
“There is no doubt that the decision of the Greek Prime Minister
has added to the instability and the uncertainty in the euro zone, and
you can see that today,” he said.
— London newsroom: 4420 7862 7491 email: drobinson@marketnews.com
[TOPICS: MABDS$,M$B$$$,MFBBU$]
