Meanwhile, Angela Merkel, the German chancellor, and France’s President Nicolas Sarkozy spelt out their determination to defend the stability of the euro as they met for a bilateral summit in Berlin, though they refused to spell out details of their plans.
Mr Sarkozy insisted that the two leading governments in the eurozone were pursuing a common course, and were ready to announce a comprehensive package before the summit of the G20 leading global economies in Cannes, France, at the beginning of November.
Mr Cameron wants Germany and others to accept the “collective responsibility” of euro membership and to increase the firepower of the eurozone’s €440b billion bailout fund to stop financial contagion spreading from Greece. Although he refused to speculate on a Greek default, he said all uncertainty had to be removed about the country’s economic future. He also called for the International Monetary Fund to be more active in “holding feet to the fire”, confronting eurozone leaders in the starkest terms possible with the consequences of further prevarication.
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