Further fiscal integration in the Eurozone – seen as one solution to the single currency area’s debt crisis – is supported by the chancellor, George Osborne. Yet it “must not be at the expense of Britain’s national interest,” Cameron insisted yesterday.
“I have secured a commitment today that we must safeguard the interests of countries that want to stay outside the euro, particularly with respect to the integrity of the single market for all 27 countries of the European Union,” he said.
The Prime Minister said there was a danger of core Eurozone states taking decisions over areas that are key to the UK benefiting from the single market, “for instance financial services.”
Other states outside the Eurozone, such as Sweden and Poland, also made the call for a “level playing field” so that crucial decisions do not get made without their involvement.
Cameron hopes that his stance will appease Conservative MPs and voters at home who have demanded a referendum on whether or not Britain should remain a part of the European Union. The Westminster vote on the motion is scheduled for today.