British Prime Minister Urges 'Decisive' Action on Euro Crisis

Nov. 18, 2011: German Chancellor Angela Merkel, left, and British Prime Minister David Cameron, right, shake hands after a news conference during a meeting at the chancellery in Berlin, Germany. (AP)

BERLIN – British Prime Minister David Cameron called for "decisive action" to resolve the eurozone debt crisis after meeting Friday with Germany's leader.

Cameron, whose country doesn't use the euro and is generally skeptical about deepening European integration, met German Chancellor Angela Merkel amid tensions over the 17-nation eurozone's slow-moving efforts to get a grip on a crisis that's already required the bailout of three relatively small countries and is now threatening much bigger Italy and Spain.

Cameron conceded that the two countries have differences but said they can "deal with" them, and that the two leaders agreed over the need for "decisive action to help stabilize the eurozone."

Merkel acknowledged that more had to be done, while insisting that there no quick-fix to the crisis.

"I think that you win back credibility by using the strength you have, and the British demand that we should put a lot of strength into winning back credibility for the euro is right," Merkel said. "But we also have to take care not to pretend to have strength that we don't have, because markets very quickly figure out that that won't work."

Merkel highlighted the two countries' common interest in getting the public finances in order and ensuring that a European Union budget increase is kept in check. She also emphasized the importance of Britain as a member of the 27-nation EU.

But there was no sign of progress on differences over Germany's wish for a financial transaction tax in Europe, which Britain opposes.