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European Council

Absolutely the opposite. What is interesting is that, since what has happened in Greece and the problems of sovereign debt, European Union members are pretty much unanimous that one has to take action on budget deficits, and one has to do it now. The risk is falling confidence; that people will not lend us money; and going the same way as Greece. The one group of people who now seem to be completely outside that consensus are those in the British Labour party. They, for reasons of political advantage—or pretend political advantage—are the last people who think that one does not need to deal with the budget deficit. That is very short-sighted and very wrong, and I think that they will come to regret it.