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European Council

To be fair to other countries in Europe, the conversation around the Council table is very much about the action that everyone is having to take. Britain has set quite a pace in setting out a five-year programme about how we are going to do this and what we have seen in Britain is market interest rates coming down since the election, whereas in other European countries they have sometimes gone up. What is required is some credible fiscal plans. Fiscal consolidation alone will not settle down the eurozone but that has to be a part of it.