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Cameron defends not joining euro
Prime Minister David Cameron has defended the government's decision to keep Britain out of the euro, during a meeting with the French President. Mr Cameron said Britain needed the eurozone to be a success but added: "We were right not to join the euro and... right to stay out of the euro."
As events have proved.
The Conservative and Liberal Democrat coalition government has said the UK will not join, or prepare to join, the euro during this parliament. Mr Cameron told a news conference in Paris that pledge was "important".

"I think we were right not to join the euro and I think were right to stay out of the euro.

"But let me be absolutely clear, it's in Britain's interests that the eurozone is a success, that the euro is a successful currency, that the eurozone economies recover," he added.

The UK would "work well" with other nations and play its own part by sticking to a stability pact, agreed by the previous Labour administration, and acting quickly to reduce it own deficit, he said. But he added that as a non-member of the eurozone the UK should not bear the costs of any bail-out.

When he reiterated his "fundamental" concerns about the euro and determination to keep Britain out of it, Mr Sarkozy insisted the single currency had proved "a success".

Following his talks with Mr Sarkozy, Mr Cameron said the leaders shared the view that forthcoming G8 and G20 meetings should address financial reforms including levies on banks, he said.
Posted by: Steve White 2010-05-21
http://www.rantburg.com/poparticle.php?ID=297206