David Cameron will warn Angela Merkel today the eurozone's future is in grave peril unless she orders action to rescue struggling economies such as Greece and Spain.
The Prime Minister, who flies to Berlin today, will tell the German Chancellor that Britain and the US fear delays in tackling the crisis could prove fatal to the currency's chances of survival, reports the Independent.
Cameron is backing French calls for Eurobonds to be issued in order to allow Mediterranean countries to borrow at reduced rates. But the idea has run into strong opposition in Germany.
Downing Street said yesterday the Prime Minister and US President Barack Obama have agreed on the need for an "immediate plan" to deal with the eurozone's chronic problems.
Cameron's move is designed to increase pressure on Merkel to agree immediate action at next week's G20 summit in Mexico ahead of a meeting of EU leaders in Brussels later this month.
But he risks irritating Berlin by appearing to lecture Germany over the future of a currency of which Britain is not a member.
What made financial headlines over the weekend?
The chairman doggedly tries to be amusing
'Profitability is almost a myth'
Active Wealth in liquidation
Cautious welcome for volatility