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European Council

As I said yesterday, the eurozone crisis has clearly had a chilling effect, not only on eurozone economies, but on our economy, the American economy and economies elsewhere in the world. The eurozone is a huge market for the world's goods, and clearly there has been a slow-down, partly because of the lack of confidence in the eurozone. We must also be clear that a break-up of the eurozone would have severe consequences for neighbouring countries and banks. That is why it is very important that we work with eurozone partners to try to sort this issue out.