Britain says Greek decision adds to eurozone uncertainty

1st November 2011, Comments 0 comments

British finance minister George Osborne said Tuesday that there was "no doubt" that Greece's shock decision to call a referendum has "added to the instability and uncertainty" in the eurozone.

Greek Prime Minister George Papandreou had called Monday for a confidence vote and a referendum on last week's EU deal to resolve the nation's debt crisis, sparking a fierce global sell-off on world stock markets on Tuesday.

"There is no doubt that the decision of the Greek Prime Minister has added to the instability and uncertainty in the eurozone," Osborne told fellow lawmakers in the House of Commons in central London.

"You can see that today and what we are trying to do is create stability and certainty in the eurozone.

"Now ultimately it's up to the Greek people and the Greek political system to decide how they make their decisions, but I would say it is extremely important for the eurozone to implement the package that they agreed last week.

"That is what I said was crucial at the time, that's what they all said was crucial at the time and I think we need to get on with it sooner rather than later."

World stock markets have slumped dramatically following the surprise Greek announcement late on Monday, while concerns have also heightened over the plight of indebted Italy.

Although Britain is not a member of the eurozone, the bloc is the country's main trading market.

© 2011 AFP

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