Eurozone warned to strengthen its firewall

By TOM PETERKIN, SCOTTISH POLITICAL EDITOR

Published 29th Jan 2012, 00:00 BST

GEORGE Osborne has warned that the Eurozone must strengthen its financial firewall before other countries increase their funding to the International Monetary Fund.

At the World Economic Forum in Davos, Switzerland, the Chancellor argued that more had to be done to increase the Eurozone’s bail-out fund, which has been established to prevent the economic area’s financial crisis spreading to the rest of the global economy.

“I think the Eurozone leaders understand that,” said Osborne, the only European minister in yesterday’s talks on the 2012 global economic outlook.