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Cameron says Member States `won't allow euro collapse`
Date 21/06/2011 16:42  Author webmaster  Hits 1143  Language Global
21 JUN 2011

Daily Express

Prime Minister David Cameron insists the euro will not collapse because member states "will not let it".

The 17 eurozone nations have too much invested in the single currency to allow it to fail, he told a press conference at Downing Street.

It comes after former foreign secretary Jack Straw insisted it could not survive and called for a speedy demise rather than a "slow death".

But Mr Cameron said: "I was passionately opposed to Britain joining the eurozone and I'm very clear as long as I'm Prime Minister there is no prospect of us even contemplating joining the euro.

"I've always believed that a country the size of Britain, with our economy and our situation, it's much better if you have your own currency, are able to set your own interest rates because sometimes different countries in Europe need different interest rates in different circumstances.

"The countries that joined the euro have an enormous amount invested in it and do not want it to, and will not let it, fail. They see it as an absolutely key part now of their national interest and identities and I would not doubt their resolve in any way."

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