Osborne On Trip To Drum Up EU Reform Support

The chancellor George Osborne has warned the UK economy is particularly exposed to Asian markets, saying the drop in the FTSE index proves the country is “not immune” to the global crisis.

He spoke as his British counterpart, George Osborne, toured Scandinavia to drum up support for London’s push to reform the bloc. We are determined to deliver a new settlement for Europe that works for everyone within it.

United Kingdom Prime Minister David Cameron has pledged to hold a referendum on whether or not to stay in the EU by end of 2017, and is attempting to renegotiate Britain’s membership terms.

It’s thought the Scandinavian support will continue, with Osborne to meet Danish Prime Minister Lars Lokke Rasmussen and Finance Minister Claus Frederiksen.

While Sweden’s ruling Social Democrats take a different stance than the UK’s Conservatives on some ecconomic issues, Andersson underlined the two countries’ strong relationship within the EU and said that she was keen to work together with Britain on at least some of its proposed reforms, although she gave few details about how exactly their cooperation might work.

Following a meeting with Finland’s finance minister, the Chancellor remarked that “everyone is concerned about the situation on the Asian financial markets”. Mr Osborne’s talk is due to focus on expanding trade links with growing economies, and protecting the rights of non-eurozone countries.

“As part of that, our process of renegotiation must include engaging actively with our key partners in Europe and that’s why today’s meetings in Finland, Sweden and Denmark are so important”.

Mr Stubb said: “Our take is very simple”.

Mr Osborne yesterday flew out to Helsinki ahead of the talks and joined Finnish finance minister Alex Stubb on a navy boat for a river tour.

Britain has traditionally seen fellow non-euro zone members Denmark and Sweden as allies within the bloc because they have tended to share its more sceptical approach towards closer European integration.