British PM cancels Japan visit as tempers fray over eurozone debt

For once Sarkozy said the right thing.

Smart guy. No need to come here. Stay home and deal with domestic problems. I'm impressed. Curious to see what kind of moves he makes in the near future.

His decision not coming to Japan is well justified. Take care of your business at home and save Euro.

They're doomed...

flaker

no sushi for you, cameron. stay home, there's no need to waste your taxpayer's money on a trip that will likely involve alot of formality and needless media hype all in the name of nothing.

go home and clean up the mess your, other wealthy euro countries', and the US' bankers and politicians have created. i know, its a mess uncapable of cleaning cuz you've all bent it to shape YOUR needs, and the needs of the wealthy you serve.

Sarkozy's anger is interesting, if they didn't need Cameron's help, you'd think they'd have a plan by now? Sadly, I don't think that Cameron can actually help - he is just there to ensure the EU common zone assets aren't sold off to fund this farce. The winners will be Greece, who escape DEEP pain, losers will be the major econimies like France and Germany who will survive, but will have to fund the junior partners (again).

Sarkozy sadly thinks he's Napoleon - he has the worst case of little man's syndrome in recent history. If they had all listened to Thatcher in the eighties, they wouldn't be in this mess now. She knew what a terrible idea a single currency was.

Sarkozy is kind of making a fool of himself. He sounds like a child at school. I would think they need everyone there, especially as nothing can be decided without the input of all the EU members.

Thatcher and Brown subsequently clearly opted out of the Euro. They voted to opt out. Now Cameron wants to provide input on something his country did not join? Sure England could be negatively affected by what the 17 Eurozone nations do, but that decision to face that risk was made a long time ago by England. So far they have done OK. The bigger threat to the English economy is the austerity program that Cameron is promoting, the English economy is tanking as a result.

Cameron is showboating now, England has nothing to add to the Euro discussions. Nothing. He should have just come here and NZ.

The european union is a 'dead horse' and nothing can bring it back alive! Greece,Italy, Portual,Spain and those former warsaw pact members...etc all of them were the european third world countries! For them what else is attractive besides economic benefits,cash? Now the EU is telling them you guys help yourself or OUT!

@zurconium England is a constituent part of the United Kingdom. The United Kingdom, even though not part of the European Monetary Union, will be expected to contribute towards their failure because they are still members of the European Union. Decisions being made by the European Monetary Union could impact the wider European Union and it is right that Mr Cameron and others should take part to protect their national interests. Planting a tree in Tokyo and sampling food from Fukoshima can wait, the priority is the Euro crisis. Sarkozy, as usual, is being a petulant child.

Issue is something like 70% of all European bank transactions involve the UK, so it affects the UK in a big way...

Sarkozy sadly thinks he's Napoleon - he has the worst case of little man's syndrome in recent history.

The irony is that Sarkozy is shorter than Napoleon, who was about average height for his time.

But, yes, it's Sarkozy that needs to shut up. He and France have done nothing to resolve this crisis. The UK and other EU countries need to be involved because this crisis affects everyone. The Eurozone had numerous chances to resolve this alone, but choked every time.

Sarkozy has a point though. Cameron keeps going on and on about. You didn't join so STFU! Be glad you didn't as it is a mess!

I kind of wonder if Sars isn't just tired due to the new baby and the wife ignoring him!

globalwatcher:

" His decision not coming to Japan is well justified. Take care of your business at home and save Euro. "

Save Euro? Luckily for the UK, they are not part of the Euro scheme. So that is one problem they don´t have. Although Sarkozy still expects them to "save" the currency.

just-a-guy:

" The european union is a 'dead horse' and nothing can bring it back alive! "

Don´t confuse the concept of a European union and the Euro currency. They are not the same, although the Eurocrat politicians never stop telling us they are... "If the Euro fails, Europe fails" etc etc.... complete nonsense.

The idea of a loose European confederation is sound. The idea of shacking 17 disparate economies together in one currency is crazy.

They want the UK's money, have already received billions, notably for Ireland, 7 it was, 7 billion ish anyway so if you are giving, you should have a say.

The UK needs the Euro or Europe at least to be calm, settled and in gear. It's their largest trading partner.

President Sarkozy's remark has not been raised unfounded, the UK PM David Cameron represents an out group of the EU, one of the states of the US taking obvious side with the US on most policies, sniffing around with suspicious nose on the Eurozone 17. No matter what good intention David strived to justify, will still be perceived as a an American spy interfering in its European neighbors. He puts salt onto the Eurozone's wound !

I bet the Indians, Chinese etc..are none too sad about the EU being all messed up, one man's problems are a big chance to go shopping for dirt cheap assets all over Europe now and as far I know the Chinese are buying up the best real estate in Madrid, Barcelona etc..

Elbudo Mexicano:

" as far I know the Chinese are buying up the best real estate in Madrid, Barcelona etc.. "

Can you blame them? Better to own something tangible than the stupid Eurocurrency, which being trashed ever more with every misguided "rescue package".

Eurozone is like China. What is with the charades. Just break it up before it brings down Germany and France. France is already waving a white flag, but to weak to admit they are.

Mr Cameron, if they do not want the UK's help just sit back and do nothing. Go back home and withdraw all help from the UK. Best thing to do would be to dump Euros and buy safe dollars. Don't sell it dump it on the world market. Ain't you tired of those continental Europeans telling the UK what to do? Let the Russians help "help" them, best thing the UK could do is withdraw from the EU. Sticking with them will drag the UK down with this EU ship of fools.

Don´t confuse the concept of a European union and the Euro currency. They are not the same, although the Eurocrat politicians never stop telling us they are... "If the Euro fails, Europe fails" etc etc.... complete nonsense.

WillieB - agree with you that the euro was economic nonsense, but a breakup would be pretty disastrous. Say you are a Spanish company that owes euros to a German bank, in what currency do you owe money when the euro breaks up? A new peseta, a new DEM or an old euro? I doubt the Germans would be very happy to receive the new peseta, but the Spaniards would not be able to afford the repayments in new DEMs.

Another example - if you are a Spaniard with savings in a Spanish bank, would you open up an account with a German bank and transfer all your savings to it as soon as a euro break up is agreed? Logically yes. The Spanish banking system would collapse for want of deposits. Repeat in Italy, Greece, Ireland and Belgian and you have a disaster on your hand.

Save Euro? Luckily for the UK, they are not part of the Euro scheme.

You are correct, BilliB. Thanks to Margaret Thutcher. She called it right. IMHO, however,I am afraid that Euro problem will spill over to UK if not contained.