Osborne: Break-up of euro would be 'disastrous'

In a statement to MPs on the global economy, George Osborne addressed the volatility experienced in markets around the world and the ongoing debt crisis in Europe. He repeatedly pointed out the deficit-reduction actions taken by the coalition government and called on other nations to follow the UK's lead. Osborne also reminded fellow European leaders about the "remorseless logic of monetary union" which led from a single currency to greater fiscal integration. He said: "Solutions such as euro bonds or other forms of guarantees now require serious consideration. And they must be mat...