Cameron and Barroso urge "decisive action" on eurozone stability

Nov 18, 2011, 10:09 GMT

Brussels - Britain and the European Commission called Friday for decisive action to ensure the stability of the euro and stimulate economic growth.

A statement released in Brussels following talks between European Union Commission President Jose Manuel Barroso and British Prime Minister David Cameron also stressed the importance of further developing the single market in Europe.

'President Barroso and Prime Minister Cameron agreed on the importance of prioritizing the decisive action needed to ensure the stability of the euro area as well as fast-tracking measures to stimulate growth and jobs,' it said.

Cameron also raised British fears about the development of an 'inner core' of eurozone countries within the 27-member EU that could leave Britain on the margins, reports on the breakfast meeting said.

The talks came against the backdrop of a report by British conservative Daily Telegraph alleging that Germany plans to create a new European body to direct the economies of beleaguered eurozone countries.

The report, originating from Brussels, alleges that the plan is aimed at the 'erosion of national sovereignty' that could pave the way for a European 'super state' with its own tax and spending plans set in Brussels.

According to the Telegraph, a fierce critic of the EU, the German government is also preparing for European countries too large to be bailed out to default on their debts.

Cameron was due to travel on to Berlin for crucial talks with German Chancellor Angela Merkel, which are likely to be overshadowed by differences in the approach to the eurozone crisis and plans to introduce a Europe-wide financial transaction tax.

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