UK threatens to block new EU treaty if demands not met

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British Prime Minister David Cameron said Tuesday he would block a new European Union treaty proposed by France and Germany aimed at saving the euro, if London's demands are not met.

He said if eurozone countries wanted to use "European institutions" to rescue the single currency, they would have to agree to safeguards demanded by Britain, which has not adopted the euro.

"I won't sign a treaty that doesn't have those safeguards in it, around things like, of course, the importance of the single market and financial services," said Cameron.

France and Germany said Monday they wanted a new EU treaty by March with tougher budgetary rules to deal with the debt crisis.

French President Nicolas Sarkozy said the new treaty would be either for all 27 EU members or for the 17 members of the eurozone, with other nations signing on a voluntary basis.

Cameron said that if eurozone countries "choose to go ahead with a separate treaty, then clearly that is not a treaty that Britain would be signing or would be amending.

"But, of course, if they want to use the European institutions, then we will be insisting on the safeguards and the protections that Britain needs."

© 2011 AFP

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