Tuesday, October 26

David Cameron warns: European single currency is hanging in the balance


 

 

David Cameron warned on Thursday evening that the existence of the European single currency was hanging in the balance, telling an audience in the United States: I wonder how long it can last.

Mr Cameron, delivering his first major address since resigning as prime minister in June, described himself as an optimist  but said he shouldn’t be, as rising populism cost me my job.

He said that he did not believe other countries would follow Britain’s lead and leave the EU. He predicted that Marine Le Pen would not be victorious in France, and that the anti-EU movement in the Netherlands would not be successful.

But he said it was the euro that provided the biggest problem.

I see more trouble ahead, said Mr Cameron, speaking to a gathering of students at DePauw University in Indiana. It is not working as it was intended.

Some countries have seen decades of lost growth. Those countries have a single currency but they don’t have a single fiscal system, a fiscal tax system. It creates bigger differences.