The British Prime Minister David Cameron has seen a rise in popularity after he announced that he would offer the British people a say over the UK’s relationship with the European Union.
Cameron has come under attack from Nick Clegg, the deputy Prime minister and leader of the coalition governments smaller member party the Liberal Democrats. Clegg has spoken out over the issue saying that Cameron’s pledge to hold a referendum to quit the EU is reckless at a time when the country is struggling to make an economic recovery.
“It is not in the national interest when we have this fragile recovery,” said Clegg, whose Liberal Democrats strongly favour closer EU ties, in contrast to many members of Cameron’s Conservative party. “I don’t think it helps at all.”
He dismissed the PM’s plans to renegotiate with the EU and reclaim powers from Brussels stating that EU talks would distract ministers and the nation from trying to revive the economy.
Currently the Liberal Democrats are struggling in the polls with large sections of the British population placing them behind the other parties and has suffered at the hands of the popularity of the anti-EU party UKIP.
A Survation poll held in the Mail on Sunday, showed the opposition Labour party unchanged and in the lead on 38%, put the Conservatives on 31%, up two points, while the UK Independence Party was down by the same margin, on 14%. UKIP’s surge from just 3% in the 2010 election has raised the prospect of a split on the right that could condemn Cameron to defeat.
Currently the Euro is trading strongly against the majority of its peers as the currency continues to ride the wave of optimism emerging from the region. The rises are not likely to last as the latest job figures out of the area is expected to show a new record level of unemployment. Weak data from the region will lead to investors losing confidence and no doubt seeking shelter in the safe-haven currencies.
The Euro to US Dollar exchange rate is currently trading at 1.3449
The Euro to Pound Sterling exchange rate is currently trading at 0.8551
The Euro to Australian Dollar exchange rate is currently trading at 1.2938
The Euro to New Zealand Dollar exchange rate is currently trading at 1.6225
The Euro to Canadian Dollar exchange rate is currently trading at 1.3579
The US Dollar to Euro exchange rate is currently trading at 0.7436
The Pound Sterling to Euro exchange rate is currently trading at 1.1689
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