Cameron 'secures single market commitment'
Published: 29th Jun 2012 17:52:28
David Cameron says he has secured from eurozone leaders "explicit commitments" to protect the EU single market.
It comes amid fears Britain's financial services sector will lose out after the 17 eurozone leaders agreed a bailout deal for their debt-laden banks.
As a non-eurozone leader, the UK PM was not present when the deal was struck in the early hours of Friday.
But he said nothing the eurozone does to stabilise its currency should impact on the single market.
And that it must remain a matter for all 27 EU states.
EU leaders have agreed to use the eurozone's planned bailout fund to directly support struggling banks, without adding to government debt.
The fact that we are not part of the eurozone has meant that our influence on these matters has been minimal for a decade or more”
After 13 hours of talks, they also agreed to set up a joint banking supervisory body for the eurozone.
There is concern among bankers that this will have a negative impact on Britain's financial services sector, which accounts for about 10% of the country's economy.
Conservative MP Mark Field, who represents the City of London, said: "Clearly this is going to have an impact on the City's international competitiveness."
And he suggested that Mr Cameron - like former British prime ministers at EU summits - found himself on the sidelines when the key decisions were made.
"The fact that we are not part of the eurozone has meant that our influence on these matters has been minimal for a decade or more," he told BBC Radio 4's The World at One.
But Former Labour MEP Richard Corbett, who is now adviser to the President of the European Council, Herman Van Rompuy, said all member states would "bend over backwards" to prevent tension between the eurozone and non-eurozone countries.
At a press conference at the conclusion of the summit in Brussels, Mr Cameron welcomed the deal.
"There is more to do, but they have made some important steps forward," he said.
He went on: "In the longer term, the eurozone - like any single currency - needs closer economic and fiscal integration to secure its future: the remorseless logic that I have spoken about.
"These are difficult decisions but I believe all the countries now recognise how much more needs to be done."
Mr Cameron said he had objected to the inclusion of references to economic and monetary union (EMU) in a growth compact discussed at the summit.
He said: "While Britain wants this done, it has to be achieved in a way that doesn't distort the single market.
"For us that's the cornerstone of the EU and the biggest benefit we get out of membership. Three million British jobs depend on that market being open and working for us.
"In the conclusion today, I secured explicit commitment that, as this work deepening EMU goes ahead, the integrity of the single market will be fully respected.
"It was tough securing this, but absolutely vital, so that as this work proceeds it goes ahead in a way that protects our interests."
At 09:03:48 in SportLiverpool are in talks with AC Milan to sign Italy striker Mario Balotelli on a permanent deal.
At 08:54:43 in HeadlinesThe long-held idea that Europeans were the first to bring tuberculosis to the Americas when they arrived in the 15th Century has been thrown into doubt.
At 08:44:34 in EnglandPassengers have been evacuated from a plane at Guernsey Airport after reports of smoke in the cockpit and cabin.
At 08:42:04 in SportWelsh golfer Jamie Donaldson admits a Ryder Cup place is on his mind and wants a good performance at the Czech Masters to secure his spot.
At 08:32:53 in EnglandA motorcyclist has died after a crash with a van near Canterbury.
At 08:31:21 in EnglandA man has been charged with murder after a teenager was stabbed to death in a street fight in Greater Manchester.
At 08:30:21 in SportWorld number one Serena Williams is the top women's seed as she attempts to win a third successive US Open title.
At 08:27:22 in HeadlinesUK police and security services are attempting to identify a suspected British jihadist who appeared in footage of the killing of a US journalist.
At 08:26:46 in WalesTwo men have been airlifted from Snowdon and taken to hospital in separate incidents.
At 08:07:40 in BusinessMore than 130,000 cars were made in the UK last month, a rise of 2.8%, according to the Society of Motor Manufacturers and Traders (SMMT).
Harvard CitationBBC News, 2012. Cameron 'secures single market commitment' [Online] (Updated 29th Jun 2012)
Available at: http://www.ukwirednews.com/news/1437783/Cameron-secures-single-market-commitment [Accessed 21st Aug 2014]
News In Other Categories
Albert Reynolds was a self-made businessman who rose to become Ireland's eighth prime minister, or taoiseach.
A hit song by Colombian pop star Shakira was indirectly copied from another songwriter's work, a federal judge in New York has found.
Passengers have been evacuated from a plane at Guernsey Airport after reports of smoke in the cockpit and cabin.
Liverpool are in talks with AC Milan to sign Italy striker Mario Balotelli on a permanent deal.
With the doors to its brand new £1million training centre officially open, one of the UK's leading apprentice training providers, Bristol based S&B Automotive Academy, is showcasing its world-class facilities by launching a series of foreign student exchanges for the first time in its 41-year history. To get a flavour of what life is like as an apprentice in the UK, the Academy hosted 16 apprentice engineers and bus drivers from the G9 Automotive College in Hamburg, Germany, as part of a Europe-wide vocational training initiative called the ‘Leonardo Programme’ with support from the European Social Fund. In a reciprocal arrangement, S&B will be sending nine apprentices to Germany during February 2012 so that they can get an appreciation of life in the automotive industry on the Continent. A further three German exchange groups are being planned for next year. Designed to assist the development of vocational skills and training across Europe, including work placements for trainees, the Leonardo Programme has a budget of €1.75bn, which is helping to encourage UK organisations to work with their counterparts abroad. In what is expected to be another challenging year for employers in the UK automotive sector, S&B’s Chief Executive, Jon Winter, claims that the exchange initiative will bring many benefits to the Academy and its apprentices: “In a world of global automotive brands, it’s important for our learners to understand the international context of the industry they have chosen to make their career. This new exchange programme will enable apprentices and Academy staff alike to achieve a better understanding of the challenges and opportunities within the automotive arena in Europe. With the Academy’s influence also extending to the USA and Asia, there’s every possibility that this initiative could move further afield in the future.” Continued Winter: “The need for skilled technicians across the world is on the increase and we actively encourage our apprentices to look at broader horizons during their training. Many of them have already learned the phrase ‘Vorsprung durch Gelehrtheit’, quite simply, ‘Advancement through learning.” In the 2010/11 academic year, S&B doubled the number of successful Apprenticeships over the previous year with some 350 apprentices graduating from the Academy. At the same time, achievement levels reached an all-time high with an overall success rate of 85%. For those learners on the Advanced Apprenticeship three-year programme, success rates were even higher, at over 98%. PHOTO CAPTION: As part of their exchange visit, S&B Automotive Academy arranged for the German apprentices to visit Hampshire bus operator, Bluestar, at its Barton Park depot. The students are pictured with S&B’s Andy West (3rd right) and Steve Prewett, Bluestar’s Area Engineering Manager (2nd right). Ends http://www.sandbaa.com
An average of around one person a fortnight travels from the UK to Switzerland to receive help to take their own life, a study has suggested.