Op-ed in the Sunday Telegraph:
We are approaching a moment of truth for the eurozone. After more than two years of uncertainty, instability and slow growth, decisions taken over the next few months could determine the economic future of the whole European continent for the next decade and beyond.
Despite our huge budget deficit and massive banking system, our economy is benefiting from safe-haven status because of this Government’s credible plan to deal with Britain’s debts – we have reduced the deficit by more than a quarter in just two years. Along with countries such as Germany and the US, investors are putting their money into the UK, driving down the interest rates on our government debt. Lower corporate tax rates and other reforms to make Britain open for business are also sharpening our competitive edge. But our recovery – already facing powerful headwinds from high oil prices and the debt burden left behind by the boom years – is being killed off by the crisis on our doorstep...MORE