French President Nicolas Sarkozy was soon concluding that Greece should never have been allowed entry to the EU. I bet the Greeks will feel the same way. According to Sarkozy they "fiddled the books" in order to present a balanced budget. His comments will have helped Eurozone relations no end, I don't think.
The UK along with nine other EU countries does not have the Euro as its currency. However decisions made by EU leaders impact on all 27 EU countries and those without the Euro may still have to stump up cash. As yet the financial impact of this week's emergency summit is not clear.
David Cameron has said that London's financial sector is under assault from European Union rules and regulations and it will need protection. He has expressed his desire for the non Eurozone countries in the EU to work together to prevent being railroaded. He said, "London is the centre of financial services in Europe. It's under constant attack through Brussels directives. It's an area of concern, it's a key national interest that we need to defend."
As debt problems continue to spiral out of control an EU rift is liable to deepen. Each leader will be keen to protect their own country's interests. How they act will be based on this and so far from from unbiased