Cameron Expresses Concern
21 June 2012 14:00 - Phoebe Robinson

G20 Summit, Mexico - Offical Website
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Cameron Expresses Concern


David Cameron has expressed frustration at the slow pace of economic recovery in Britain. The Prime Minister said he is taking action in order to get as much out of the crisis as possible. Cameron has said that he is planning moves to take advantage of our low interest rates for state borrowing to put government support behind mortgages, house-building and so on.

At the G20 summit that recently took place in Mexico, Cameron said he wanted to boost exports to the emerging economic giants, but he is determined to avoid a “borrowing and spending spree”.  In Mexico City the PM said, "We need to have a rebalancing in our economy, where we export more and make more and the private sector grows and we sell to the fastest growing new countries in the world.”

Cameron announced that he does not feel that potential changes to the eurozone to stabilise the crisis, such as banking union and fiscal union, will require a referendum in the UK. 

Talking after the Summit in Los Cabos in which plans took shape for a bailout of Spain and Italy, the PM said, "I am confident that they know how serious the situation is and they know that if they don't use all the instruments, all the institutions of the eurozone to stand behind their currency, they will face problems.”