No British Europe, EU Conservative Leader Says

German Chancellor Angela Merkel’s Bavarian allies will support British Prime Minister David Cameron if he wants to address Europe’s weaknesses but do not want a British Europe, an EU conservative leader told a German newspaper.

Britain is due to hold a referendum on whether to remain in the European Union by the end of 2017. After a meeting with Cameron earlier this month, the EU’s political leaders agreed there must be a compromise to keep Britain in the bloc.

Cameron has said he wants Britain to remain in the EU, but has hinted he could campaign for an exit if he fails to win an agreement that can reduce the influx of EU migrants, improve business competitiveness, return more sovereignty to Britain and protect London’s banks from discrimination by the euro zone.

Manfred Weber, leader of the centre-right European People’s Party (EPP), told German daily Frankfurter Allgemeine Zeitung that the Bavarian Christian Social Union (CSU) would support Cameron if he wanted to reform the EU’s weak spots such as bureaucracy and a lack of competitiveness.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.