G8 Summit: Cameron says 'good progress' on eurozone

 

David Cameron: ''What is required is a sense of urgency''
UK PM David Cameron has said the G8 summit of world leaders is making "good progress" on talks over the eurozone.
However, he cautioned against any deal emerging from the gathering, warning the G8 "cannot instruct the eurozone what to do".
Mr Cameron said he supported German chancellor Angela Merkel's insistence on efforts to reduce deficits.
Earlier he and Barack Obama took to treadmills for talks in the gym at the US president's Camp David retreat.
Mr Cameron said the German chancellor was "absolutely right".
However, it is understood Mrs Merkel is increasingly anxious the German perspective on the crisis is not being heard.
Treadmill talks Ahead of a working session on the eurozone and the world economy, Mr Cameron and President Obama held bilateral talks in the gym at the retreat in Maryland.
As well as the eurozone, they discussed measures to ease the price of oil.
The president was said to have called for the prime minister at his log cabin in the morning and the pair emerged 35 minutes later before heading back towards the leaders' cabins.
Mr Cameron said: "We are addressing here the two biggest threats to all our economies and that is, of course, the eurozone crisis but also the very high oil prices that translate into high prices at the pumps.
"We are making progress on both."
Mr Obama had welcomed G8 leaders late on Friday, and they discussed the nuclear stand-off in Iran and North Korea, and the unrest in Syria.
But the eurozone is expected to top the agenda when the leaders of the US, Germany, France, Britain, Japan, Russia, Italy and Canada hold a full day of talks on Saturday at the presidential retreat north of Washington.
Mr Cameron had also warned French President Francois Hollande that Britain will not accept a tax on financial transactions.
Speaking in Washington on Friday ahead of his meeting with the newly elected French leader, Mr Cameron said it was not a "sensible measure".
Mr Cameron said eurozone leaders needed to take swift action to resolve the crisis over Greece.
"This is in Britain's interest too because we want to have a successful growing eurozone on our doorstep and not the instability we have now."
Mr Cameron and Mr Hollande met for the first time at the residence of the British ambassador in Washington, before travelling on to Maryland for the summit.

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