Osborne tells eurozone leaders ‘get a grip’

Report of a FT interview with the United Kingdom Chancellor of the Exchequer (Finance Minister) George Osborne, July 2011.

Mr Osborne urged eurozone leaders to 'get a grip' on the sovereign debt crisis at the emergency Meeting of Heads of State or Government of the Euro area, Brussels, 21 July 2011, warning that failure to do so could unleash an economic crisis as serious as the recession that followed the banking crash of 2008.

He recognised that his enthusiasm for greater eurozone integration turned British policy on its head, since it ends the UK government's long-standing desire to frustrate the creation of a two-speed Europe. He said 'the remorseless logic' of monetary union was greater fiscal union.

See the related url hyperlink to find other information sources previewing the emergency Meeting of Heads of State or Government of the Euro area, Brussels, 21 July 2011.

ESO: Background information: EU must take ‘bold’ decisions on crisis / Talks focus on Greek debt http://www.europeansources.info/record/eu-must-take-bold-decisions-on-crisis-talks-focus-on-greek-debt-bank-tax-proposed-to-help-greece-bail-out-barroso-warns-of-greece-shockwaves-germany-and-france-reach-greek-ac/

EurActiv, 8.8.11: UK pushes for EU fiscal harmonisation http://www.euractiv.com/en/euro-finance/uk-pushes-eu-fiscal-harmonisation-news-506935

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