UK Premier Furious Over Weak Promises Made To Prop Up Debt Riddled EU

Prime Minister David Cameron yesterday asked that European Union leaders fix their debt mess immediately in order to avoid what he foresees as an impending economic tragedy.

The UK Government leader called the German Prime Minister to press her on delivering promises her government made to prop up the EU’s needy countries.

Cameron’s irate reaction seems to have been triggered by the tumbling stock markets around the world this week.

The London FTSE lost almost three per cent this week and this equates to around 10% of the UK’s top companies value being wiped out. The damage looks to be £164 billion, according to analysts familiar with the market with these companies.

This is the largest dip since Lehman Brothers collapsed in 2008 causing the worst crash in the history of the UK.

The UK Prime Minister is angry because European leaders created a rescue package for the Euro currency, then decided that their summer holidays were more important than staying behind to ensure that it was properly implemented.

The European debt issue, and the fact that the United States has dented its impeccable credit rating, has caused the stock market chaos felt around the world today.

David Cameron is on holiday in Tuscany and made his angry demands from his holiday home there. He was also supported in what he said by his chancellor George Osborne who is also on holiday in the US state of California

Cameron was in contact with the French chancellor, urging him to put the recovery plan in to action as quickly as possible.

The UK government are extremely concerned because it is looking increasingly more likely that Spain and Italy are going to default on their debt repayments, as well.

Italian Premier Silvio Berlusconi has finally relented and made public that he is calling for an emergency meeting of the G7 and is determined to address Italy’s debt problems.

US President Barack Obama tried to sound confident when he said “we will beat this” and made his promise to the American people that things will get better in the global economy.

World traders are not convinced by any of this latest news that there will soon be an upturn and this is causing very unstable market trends which could be devastating to world economies.