Clegg: The volatility of the euro area is the biggest threat to United Kingdom

British Deputy Prime Minister, the Liberal Democrat Nick Clegg said today in Madrid that the current economic instability in the euro zone represents the "biggest threat" to the recovery of the UK economy.

"The very success of Britain depends in many ways, the larger success in Europe. Our economies are interconnected," Clegg said at a briefing held in a Madrid hotel during his first official visit to Spain.

The "number two" of the coalition government led by the conservative David Cameron stressed that "other European Union countries are by far the largest trading partners of the United Kingdom", because half of British exports go to EU."That," he continued, "means that the difficulties in the euro area directly affect Britain. Moreover, the continued instability and lack of growth on our doorstep is the greatest threat to our own economic recovery."

The leader of Britain's Liberal-Democratic Party believes that the "slow growth in the euro area" mean "less British exports less growth and fewer jobs UK British."
Therefore, he continued, "affects our vital national interest to succeed in Spain and in the entire euro area."

In addition, Clegg, a convinced European who paradoxically integrates an Executive headed by a Eurosceptic as Cameron, said the coalition government "will be a tireless supporter of the euro area and EU prosperous and strong."

However, Deputy Prime Minister recalled that the conservative-liberal government "will not seek to join the euro" in the next five years, or transfer "new powers from Westminster to Brussels"

On this crisis, Liberal Democrat politician said it was "the most challenging of a generation" and requires European governments to implement plans "courageous" to balance public finances.

"In the UK, we have taken action to lower the budget deficit we inherited (from the previous Labour government), which is the highest since World War II," said Clegg, stating that his country has the "largest deficit" public the EU, which amounts to 12 percent of gross domestic product (GDP).

"We must make tough decisions to sort out our finances and reduce the deficit to create conditions for growth," reiterated the British politician, who advocated the introduction of measures such as reform of the EU labor market.

"If we give the right answer," he warned, future generations will know that we did the right thing to rescue Europe from the dark shadow of the long-term difficulties. If we make mistakes, condemn our continent to years of difficult social, political and economic .

Nick Clegg attended the informational meeting this Thursday after meeting with Spanish Prime Minister Jose Luis Rodriguez Zapatero, with whom he discussed the evolution of the economic crisis and adjustment programs of the European countries.

In this regard, Clegg said today that Spain is suffering "the consequences of fundamental imbalances of our economies in recent years" and praised the Spanish government has activated "rightly" an austerity plan to cut the deficit.

Also, the deputy prime minister is scheduled to meet today with President of the conservative Popular Party (PP, political force in the opposition), Mariano Rajoy.