Greek delay dangerous, warns PM
Prime Minister David Cameron has urged successful parties in Sunday's Greek elections to move swiftly to form a government, warning that delay could be "very dangerous".
His comments came as he arrived in Mexico for a G20 summit of the world's leading economies which will be dominated by the crisis in the eurozone and the fallout from the polls.
Before leaving London, Mr Cameron held a conference call with the leaders of Germany, France, Italy and Spain as well as the presidents of the European Commission and European Council.
It is understood that the leaders were encouraged by the results of the ballot, which saw the centre-right New Democracy party outpoll the far-left Syriza in an outcome which makes Greek departure from the euro less likely.
But there is now a sense of urgency about New Democracy - which is signed up to the austerity programme demanded in a memorandum setting out the terms of Greece's multibillion-euro bailout - forming a coalition government in Athens.
Mr Cameron said: "The outcome of the Greek election looks clear in terms of a commitment to stay in the eurozone and to accept the terms of the memorandum. But I think those parties that want that to happen can't afford to delay and position themselves. If you are a Greek political party and want to stay in the eurozone and accept the consequences that follow you have got to get on with it and help form a government. A delay could be very dangerous."
Mr Cameron is expected to use a speech later to step up pressure on the 17 eurozone countries - and particularly Germany and the European Central Bank - to take decisive action to address the fundamental problems behind the crisis in the single currency.
Europe's leaders must be ready to take tough political decisions or face the threat of either "perpetual stagnation" or a hugely damaging break-up of the single currency, he will warn.
He has brought a 25-strong business delegation with him to Mexico, in a sign that he wants to build up trade links with emerging economies to make up for continuing weak demand from traditional markets for British exports in Europe.
Speaking to a business audience in the Pacific resort town of Los Cabos, the Prime Minister will put the crisis in the euro area at the top of a list of "five big threats to the global economy". No corner of the world is safe from the five threats of the eurozone instability, sovereign debt, low growth, protectionism and failure to regulate the banks, the PM will say.