Investing.com - Financial Markets Worldwide
🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

Cameron, Sarkozy Clash as U.K. Stays out of EU Crisis Deal

ByInternational Business Times
Published 12/12/2011, 08:20 AM
Updated 05/14/2017, 06:45 AM
SMT
-

Britain refused on Friday morning to join a deal that aims at resolving the EU debt crisis and stabilising the cur-rency.

The BBC has reported that Prime Minister David Cameron refused to join the intergovernmental accord after 10 hours of talks in Brussels, as he felt the deal was not in the UK's interest.

Hungary too is likely to stay out of the deal, while the Czech Republic and Sweden will have to secure the approval of their parliaments before endorsing the deal, the report has said.

According to the BBC, French President Nicolas Sarkozy has said the prospects of a full treaty have hit a roadblock following "unacceptable" British demands for exemptions over financial services, a vital part of the U.K. economy. "A full accord of all 27 EU members wasn't possible, given the position of our British friends," Sarkozy said.

A report in the Telegraph has added that Cameron and Sarkozy clashed with angry words at the summit before the treaty was blocked.

The BBC has quoted the French president as saying: "We want the eurozone countries to come together and solve their problems. But we should only allow that to happen within the EU treaties if there are proper protections for the single market, for other key British interests.

"Without those safeguards it is better not to have a treaty within a treaty, but have those countries make their arrangements separately. It was a

Latest comments

Loading next article…
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.