Britain to the eurozone: Get your act together
UK finance chief George Osborne called on his European neighbors to put their 'house in order' as Britain sees some promising economic gains.
Remy de la Mauviniere/AP
Or a reckless swagger, some say.
Although 2011 will see the affect of tough austerity measures unmatched by any other big European state, economic figures this week show something of a surprise. The strongest British manufacturing performance in 16 years last month has encouraged Prime Minister David Cameron’s administration that its radical plans for rebalancing the economy are paying off.
With the UK's neighbors still mired in a debt-driven crisis threatening the eurozone, Britain’s finance minister called Thursday on Europe to “put its own house in order” in 2011. He urged states sharing the common currency to underpin it and decisively sort out the bloc’s fragile banking system.
Call to 'bold' action
George Osborne, the chancellor of the Exchequer, used an article in the Financial Times to assert that Europe has not been bold enough in its response to its currency and banking problems. He also invited others to follow Britain's embrace of stringent deficit reduction.