Cameron: Eurozone crisis hampering UK

21 November 2011

Britain's financial recovery is being severely hampered by the impact of the ongoing crisis in the eurozone, David Cameron has admitted.

During a speech to the Confederation of British Industry's (CBI) business lobby today (21 November), the prime minister indicated that the fiscal issues being faced by many countries on the continent is having a large knock-on effect on the UK.

"Paralysis in the eurozone is causing alarm in the markets and having a chilling effect on economies in many countries - including our own," he noted.

Mr Cameron went on to state it is no real surprise that confidence among consumers and companies across the nation is suffering as uncertainty continues to characterise the future.

However, he insisted that the government will "deal with our debts and go for growth" in order to improve the situation.

Recently, the Financial Times reported that UK banks have cut their exposure to lenders in troubled eurozone states significantly in recent months.

By Asim Shah

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