Osborne: Europe's taxpayers must stand behind euro

Osborne: Europe's taxpayers must stand behind euro
Osborne: Europe's taxpayers must stand behind euro

George Osborne, chancellor of the exchequer, acknowledges extent of crisis but refuses to take part in any eurozone solution:

"We see the potential for a set of economic events that could be as damaging as 2008.

"Britain's taxpayers stand behind the pound, Europe's taxpayers are going to have to stand behind the euro."

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