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Britain won t join new euro mechanisms

LONDON, Jan 13, 2011 – Britain refuses to join any new funding mechanisms to prop up the eurozone, Prime Minister David Cameron said Thursday as his French counterpart Francois Fillon visited the country.

"A strong and successful eurozone is in Britain\’s interest, we want the countries of the eurozone to sort out the difficulties and the problems that they have," he told a joint press conference with Fillon at Downing Street.

"We won\’t stand in the way as they do that, indeed we will be a helpful partner to make sure that happens," added Cameron.

"But let me again be clear, that does not mean that Britain should be drawn into new mechanisms or new procedures or have to give up new powers."

Fillon was quoted as saying in an interview with The Times newspaper earlier Thursday that he would urge Britain to back deeper European integration to save the euro or risk disaster in its own economy if the currency fails.

The French premier said in a speech to business leaders on Thursday that France and Germany are ready "to do everything, absolutely everything" to ensure the stability of the eurozone.

"Of this there must never be any doubt: euro area states, and especially France and Germany, are ready to do everything, absolutely everything, to ensure the euro area\’s stability," Fillon told business leaders.

Fillon was making his first official visit to Britain since he became prime minister in 2007.

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