viernes, 23 de septiembre de 2011

PM urges action on European debt - BBC News

Eurozone countries must act swiftly to tackle their levels of debt, Prime Minister David Cameron has said.

In an address to the Canadian parliament, he urged European leaders to demonstrate the "political will" to secure the stability of the system.

The crisis required a "fundamental and lasting solution", he said.

Amid big losses on world stock markets, he said "we're not quite staring down the barrel" but admitted the recovery out of recession would be difficult.

"Endlessly putting off what has to be done doesn't help, in fact it makes the problem worse, lengthening the shadow of uncertainty that looms over the world economy, he told the parliament in Ottawa.

Bailout mechanisms

"We're not quite staring down the barrel, but the pattern is clear. The recovery out of the recession for the advanced economies will be difficult."

BBC deputy political editor James Landale said Mr Cameron wants Eurozone countries to integrate their tax systems more closely and use their bailout mechanisms more effectively to get business investing.

His language was "stark and to the point", our correspondent said.

Mr Cameron added: "Whatever course they take Europe's banks need to be made strong enough so that they can help support the recovery, not put it at risk.

"At the same time we can not put off the fundamental problem of the lack of competitiveness in many Euro area countries."

In a separate speech in New York earlier on Thursday, Mr Cameron urged unity amongst members of the United Nations.

He told the UN general assembly the international community must seize the "massive opportunity" of the spread of democracy in the Arab Spring.

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