Angela Merkel has been saying that the single currency is “the glue that holds Europe together” and “If the euro fails, then Europe fails.” The Euro has failed! The eurozone should accept once and for all that the Euro and the common monetary policy do not work.
The BBC reports: "Tory MP Bill Cash said the UK was "potentially exposed" to a 4bn euro (£3.4bn) rescue of Portugal's economy after its debt crisis worsened."
Moreover, it says "In an urgent question in the House of Commons, Mr Cash said the mechanism "involves the UK underwriting approximately 8bn euros to eurozone countries until 2013", and urged the prime minister to renegotiate arrangements underpinning it at Friday's summit of EU leaders. "
The Press Association reports: "Tory Bill Cash, chairman of the cross-party Commons European Scrutiny Committee, called on David Cameron to make that commitment at a meeting of EU leaders in Brussels."