"THE Eurozone crisis will be dragged out for years, David Cameron promises"

From The Soaraway Sun

THE PM reassured his fellow politicians and bankers as relief over Greece yesterday re-fuelled interest in opportunities in Spain and Ireland.

MARKETS saw a dramatic early rally after Sunday's knife-edge win for the pro-Euro New Democracy party in Greece's general election enabled market insiders to offload overpriced stocks. Within hours, speculators then pushed up Spanish borrowing costs to a high of 7.14 per cent, raising hopes that this would trigger another €100 billion bail-out for Madrid's bankers next month. And more action was also being considered for struggling financiers in Ireland too, with the EU and IMF looking at doubling Dublin's loan repayment term from 15 years to 30 years to ease its mounting pressure.

SPEAKING at the first day of the G20 summit in Mexico, quietly confident Mr Cameron painted a rosy picture of EU bosses' continual dithering over the slow-motion Eurozone "crisis". He said they were coming up with "just enough political and economic action to make it look convincing and keep you in bonuses".

HE ADDED: "If we don't push our luck - like we did in Greece or Ireland - it's likely that Eurozone "crisis" can be kept going indefinitely. But remember: it's a fine line. Just as we have to avoid a total collapse, we have to avoid a full recovery. If the economy did recover, we wouldn't have a cover story handy for why we keep giving the wealthiest people even more money for no apparent reason."

URGING Britain's bankers to look beyond Europe for new victims, the PM declared: "The UK financial sector must do all it can to ensure compliant regulation at home and to get its talons into the fastest growing parts of the world."