[The New York Times]Even as Britain hopes for an end to the debt crisis plaguing the euro zone, it also fears an outcome that may threaten its influence in the European Union and London’s role as a financial center.
The broad market sell-off Tuesday on news from Greece only makes that outcome more uncertain. Before this latest jolt to the euro zone, the British prime minister, David Cameron, was already in a delicate dance, trying to defend his relevance in the European Union while trying to sidestep politicians and policy makers in London who would just as soon pull out of the bloc altogether. Notably, Mr. Cameron, as prime minister of one of the 10 member states that do not use the euro, was not invited to dine with government leaders of euro nations in Brussels last week. And he was excluded from the talks on how to save the single currency.
Those were significant snubs. But Britain’s concerns go far beyond dinners missed and meetings not attended. There is a growing fear in London that a closer fiscal union among the 17 countries that share the euro, if such a consolidation is an eventual outcome of the crisis, would curb Britain’s influence on decisions that could affect the British economy.
Lire : nytimes.com
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