David Cameron warns of euro storm

DAVID Cameron today issued a call for action from eurozone states and institutions to support weaker economies.

The Prime Minister said he would do “whatever it takes to keep Britain safe from the storm” – but made it clear the UK could not be immune from the consequences of a collapse of the euro.

In a message directed at Germany, Mr Cameron said the “remorseless logic” of monetary union meant successful economies must be prepared to do more to shore up weaker states.

He insisted he would not ditch his deficit-reduction strategy in the face of calls for a shift from austerity.

He said Britain should be “resolute” as it faces the flak from the eurozone, but also “confident” it can find a brighter future if it stands firm.

In his starkest warning yet of the dangers created by the debt crisis in Greece, the Prime Minister used a high-profile speech to say that Britain is going through “perilous economic times”.

Mr Cameron told business leaders in Manchester: “I have a clear task: to keep Britain safe. Not to take the easy course, but the right course. Not to dodge responsibility for dealing with a debt crisis, but to lead our country through this to better times.”

Shadow Chancellor Ed Balls said the Prime Minister was “deeply complacent” if he believed his policies had put Britain on the right course.

Mr Cameron was to have a video conference call with French president Francois Hollande, German chancellor Angela Merkel and Italy’s Mario Monti today.