Labour

While we welcome the steps taken at this week’s summit, it is clear that the Euro is not yet out of the woods - Alexander

Douglas Alexander MP, Labour’s Shadow Foreign Secretary, commenting on the EU summit talks, said:

“While we welcome the steps taken at this week’s summit, it is clear that the Euro is not yet out of the woods. In reality this summit only managed to exceed what were already very low expectations, so there is more to be done to fully restore market confidence.

“We have long called for a renewed emphasis on growth in Europe, but regret today’s Growth Compact was agreed despite, and not because, of the efforts of our own Prime Minister. He doesn’t accept the need for this at home and he has hardly been leading calls for it abroad.

“Although rescuing the Euro must be the focus for Eurozone leaders, reforming it must be the ambition - and vital and complex negotiations lie ahead if deeper fiscal and monetary union within the Eurozone is to be achieved.

"David Cameron has a heavy responsibility in the months ahead to ensure Britain's interests, and the interests of the single market are protected.”