U.K. Prime Minister David Cameron should stop trying to help ensure survival of the European single currency in its current form, Conservative Party lawmaker David Davis said, the Sunday Telegraph reported.
Some “fracturing” of the euro area is “inevitable,” and a managed breakup of the currency zone will be less harmful to the British economy than a decade of financial austerity in Europe, Davis said, according to the newspaper. Additional cuts in taxes and spending in the U.K. before the next general election are “unavoidable,” the Telegraph reported, citing Davis.
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