UK Cameron: EU Agreement Is Strongly In British Interests

17th Jun 2010 17:09

BRUSSELS (Dow Jones)--U.K. Prime Minister David Cameron said Thursday that the U.K. wants a strong euro zone, but he had agreed concessions on budgetary surveillance and fiscal sanctions in discussions with European Union partners. "It is in our national interests that there is a strong and successful euro zone and we support efforts to make it more stable and deal with its difficulties," he said after taking part in his first European Council meeting. "But we also will ensure our red lines are protected. We are not and we will not be members of the euro," he said. EU leaders met in the Belgian capital to discuss changes to the bloc's rules on economic governance and other issues. Cameron said EU leaders had agreed that any sanctions for those that breach economic obligations would relate to members of the euro zone. They also agreed that any budgetary surveillance by EU authorities would take account of national budgetary procedures, he said. "I'm clear that that means Britain will always present its Budget to Parliament first," he said. -By Nicholas Winning, Dow Jones Newswires, +44 207 842 9498; [email protected] (END) Dow Jones Newswires June 17, 2010 12:09 ET (16:09 GMT)