Big question mark over future of eurozone: Cameron

Big question mark over future of eurozone: Cameron

Cameron said he did not want to repeat an annual battle with banks over bonuses, saying they should rein in payments and support businesses at a time of slowing growth. “Its a very difficult time for the eurozone... There is real turbulence in the markets, real question marks over whether countries can deal with their debts and a big question mark over the future of the eurozone,” he said in an interview on BBC Radio 2.

Reform of the 17-nation currency bloc is on the agenda after market turmoil spread from Greece to much larger Italy.

Cameron has repeatedly said eurozone countries need to become more integrated. Britain is not a member of the single currency and Cameron ultimately wants to claw back some powers from the larger European Union.

“My responsibility is of course to try and help bring about a solution to those problems,” he added.

“But above all my priority has got to be to help keep the economy safe and to make sure, if we are going to face a difficult time... to try and come through the storm.”

Britain is preparing contingency measures to cope with the fallout from the eurozone crisis and business secretary Vince Cable has said it is better placed than before the 2008/09 financial crisis.