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24 January 2013

FT: Merkel says eurozone not 'closed shop' to UK


Ms Merkel said the eurozone countries' rules should be "binding" for themselves but "freely accessible" to other EU members such as the UK.

Ms Merkel refrained from criticising the UK prime minister’s decision to offer the British public a vote on EU membership and, in one of several unprompted positive mentions of the UK, said Germany and her “friend” Mr Cameron would work together to fight tax evasion. Ms Merkel reiterated that growth and fiscal consolidation were “two sides of the same coin”, and said other European countries needed to match Germany’s industrial competitiveness as she would not risk German exports by settling for the “lowest common denominator”.

Mr Cameron received a lukewarm reception from a packed main conference hall, and other European leaders see Britain’s move as a distraction to the more important issue of ensuring eurozone survival. But Mr Cameron insisted that there needed to be a reconsideration of Britain’s position.

He did not spell out his demands for a looser relationship, but indicated that the EU should see Britain’s actions as part of a wider ambition to improve economic performance across Europe and make the bloc more outwardly focused.

Full article (FT subscription required)



© Financial Times


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