From BLOOMBERG.COM:
U.K. Prime Minister David Cameron rebuffed a call by German Chancellor Angela Merkel for political union in Europe, underlining Britain’s growing distance from the 17-nation euro area as it seeks to resolve its debt crisis.
The crisis offers an opportunity for powers to “ebb back” from Europe to nation states, Cameron said in a speech in London last night. Hours earlier, Merkel told her Christian Democratic Union party in the eastern German city of Leipzig that it’s time to push for closer political ties and tighter budget rules.
“We should look skeptically at grand plans and utopian visions; we’ve a right to ask what the European Union should and shouldn’t do,” Cameron said. Europe should be “outward- looking, with its eyes to the world, not gazing inwards” and should have “the flexibility of a network, not the rigidity of a bloc,” he said…
Click here to read the full article.
