Cameron condemns EU over euro zone crisis

Friday 27th January 2012

Prime Minister David Cameron has already incurred the wrath of many European leaders after his use of the veto on the Lisbon Treaty revisions last month.

Yesterday he went on the offensive again at the World Economic Forum in Davos, where he was highly critical of Europe's handling of the euro zone crisis.

Cameron said excessive bureaucracy and "mad" taxes were damaging growth and European leaders should be more "honest about the overall situation".

"In the name of social protection, the European Union has promoted unnecessary measures that impose burdens on businesses and governments, and can destroy jobs," he said.

"The Agency Workers Directive, the Pregnant Workers Directive, the Working Time Directive. The list goes on and on. And then there's the proposal for a Financial Transactions Tax... Even to be considering this at a time when we are struggling to get our economies growing is quite simply madness."

Cameron added: "We can't go on like this. That is why Britain has been arguing for a pro-business agenda in Europe. Europe's lack of competitiveness is its Achilles heel."

On the issue of the euro, the Prime Minister said a single currency needed deep financial integration, a more balanced trade structure, collective debt and a strong central bank behind it.

He quipped: "Currently it's not that the euro zone doesn't have all of these, it's that it doesn't really have any of these."

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Mike Jones