BBC News
January 26, 2012
David Cameron and entourage have rolled into Davos to sell the investment potential of Olympic-year Britain to the business leaders, investors and bankers who throng the World Economic Forum's annual meeting.
But in his plenary address, he also delivered something of a lecture to the eurozone on what it needs to do insure the long-term survival and prosperity of the creaking currency union.
This is what he said:
"I'm not one of those people who think that single currencies can never work. Look at America. Or the United Kingdom.
"But there a number of features common to all successful currency unions. A central bank that can comprehensively stand behind the currency and financial system.
"The deepest possible economic integration with the flexibility to deal with economic shocks. And a system of fiscal transfers and collective debt issuance that can deal with the tensions and imbalances between different countries and regions within the union.
"Currently it's not that the eurozone doesn't have all of these - it's that it doesn't really have any of these."
More
No comments:
Post a Comment