British Prime Minister David Cameron joined Canada’s prime minister in issuing dark warnings about the global economy on Thursday, saying Eurozone countries must act swiftly to resolve the debt crisis and make Europe’s banks stronger.
Cameron said in an address to the Canadian Parliament Thursday the problems in Europe are so big they threaten the stability of the world economy.
“We’re not quite staring down the barrel. But the pattern is clear. The recovery out of the recession for the advanced economies will be difficult. Growth in Europe has stalled. Growth in America has stalled,” Cameron said.
Cameron said Eurozone countries must implement what they have agreed and must demonstrate they have the political will to do what is necessary to ensure the stability of the system.
“One way or another they have to find a fundamental and lasting solution to the heart of the problem the high level of indebtedness in many Euro countries. And whatever course they take Europe’s banks need to be made strong enough so that they can help support the recovery, not put it at risk,” Cameron said.
From: http://ping.fm/ti96B
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