London Daily

Focus on the big picture.
Tuesday, Mar 17, 2026

EU contempt laid bare: How French President told Britain to 'shut up about euro'

EU contempt laid bare: How French President told Britain to 'shut up about euro'

FRANCE's former President, Nicola Sarkozy, repeatedly clashed with David Cameron before a crisis summit of the eurozone's 17 members in 2011 and warned him to "shut up about the euro", unearthed reports reveal.
At the end of May, France and Germany announced they are backing the creation of an EU bond to raise €500billion (£447billion) to boost the European economy, severely weakened by the COVID-19 pandemic. The two leaders, Emmanuel Macron and Angela Merkel, unveiled their proposal in a joint video press conference. If approved, it would be the first time the bloc has pooled its debt in this way.

The measure immediately raised objections from the Netherlands, Austria, Denmark and Sweden, known as the "Frugal Four", who support the establishment of a one-off emergency fund but do not back debt sharing or a significant increase in the EU’s next seven-year budget.

However, the pressure that the pandemic poses on the EU as a whole might work in favour of the Franco-German joint proposal.

Andrew Watt, head of the unit for European economic policy at the Hans-Böckler Foundation, said: “The Frugals, on paper, have a fairly strong position in the sense that this whole thing is located within the European Union budget.

“In practice, though, none of them want to go down in the history books as the country that, faced with a pandemic, after all these countries have gone through, let them starve.”

The plan is, nonetheless, incredibly critical as, in the long run, it could raise questions over governments' ability to repay debts and also revive the threat of countries leaving the single currency.

Similarly, it was Britain, who, nine years ago, found itself in a similar position to the one of the Frugal Four.

As the crisis in the eurozone reached its peak, Britain demanded that all 27 EU countries be given the final say over measures to prevent the eurozone's sovereign debt crisis spreading and Europe sliding into deep recession.

However, according to a 2011 report by The Telegraph, at the end of a crisis summit, former French President Nicola Sarkozy expressed rage at the constant criticism and lectures from UK ministers.

Mr Sarkozy bluntly told Mr Cameron: "You have lost a good opportunity to shut up.

"We are sick of you criticising us and telling us what to do.

"You say you hate the euro and now you want to interfere in our meetings."

Following strong and vocal support from Sweden and Poland, Mr Cameron managed to secure an agreement that he and non-euro countries would be invited to the bank rescue summit the following week.

He also won a fight to include a “safeguard clause” that the eurozone would not be allowed to take any decisions on issues, such as regulation of financial services, that affected all the EU’s 27 members.

So when institutional changes to the primary law had to be agreed and ratified by all member states, Mr Cameron decided to use his veto to block the EU-wide treaty, claiming he had to protect key British interests – including its financial markets.

However, the former Prime Minister's victories were short-lived.

That same day, President Sarkozy hailed a “historic” breakaway “euro plus” bloc that would have pursued fiscal and economic union via a new treaty outside the EU, leaving Britain isolated and not part of the negotiations.

Despite not attending the meetings of the new fiscal union, Whitehall officials were braced for a string of new initiatives that would have had an impact on the British economy.

One Whitehall source said at the time: “A decision taken by the Euro-Plus summit is a fait accompli for the EU.

“If the Euro-Plus decides that will be translated into an EU decision via its in-built qualified majority, Britain won’t have a chance to influence EU decisions on economic, social and employment legislation that overrides its national law.”
Newsletter

Related Articles

0:00
0:00
Close
Western Allies Urge Restraint as Israel Weighs Expanded Ground Operation in Lebanon
Trump Warns NATO Faces ‘Very Bad’ Future Without Stronger Allied Support in Iran Conflict
UK Minister Says Britain Not Bound to Support Every Demand From U.S. President
Starmer Tells Trump Britain Will Not Be Drawn Into Wider Iran War
Starmer Tells Trump Britain Will Not Be Drawn Into Wider Iran War
UK Set to Introduce Steel Tariffs of Up to 50 Percent in New Industrial Strategy
European Governments Decline Trump’s Call to Send Warships to Reopen Strait of Hormuz
Fears Over Iran Conflict Weigh on UK Consumer Confidence
Starmer Says UK Working With Allies on Hormuz Shipping Plan After Trump Raises Pressure
Iran War and Energy Shock Shake Britain’s Economy and Political Debate
Deadly Meningitis Outbreak at UK University Leaves Two Dead and Several Seriously Ill
Deadly Meningitis Outbreak at UK University Leaves Two Dead and Several Seriously Ill
King Charles and Queen Camilla Share Personal Tributes to Their Mothers on UK Mother’s Day
Prince William Honors Princess Diana with Mother’s Day Tribute
UK Economy Stalls in January as Households Cut Back on Eating Out
AI-Generated Singer Becomes Viral Voice for Iranians With New Anthem
London Private Club Founder Plans Exclusive Palm Beach Venue Near Trump’s Mar-a-Lago
Ed Davey Urges Britain to Build Fully Independent Nuclear Missile Capability
What the UK Covid Inquiry Is and How It Investigates Britain’s Pandemic Response
What the UK Covid Inquiry Is and How It Investigates Britain’s Pandemic Response
US Treasury Links British Polo Patrons to Alleged Venezuelan Oil Proceeds Laundering Scheme
Hundreds Gather in London Despite Ban on Annual Pro-Palestinian March
Two Dead and Multiple Students Seriously Ill After Invasive Meningitis Outbreak at UK University
UK Considers Deploying Ships and Mine-Hunting Drones to Reopen Strait of Hormuz
Starmer and Trump Discuss Urgent Need to Reopen Strait of Hormuz Amid Escalating Iran Conflict
Prince Harry and Meghan Markle’s Planned Australia Visit Draws Mixed Reaction From Local Communities
Trump Calls on France and UK to Help Safeguard Strait of Hormuz Shipping Route
Boris Johnson Labels Bitcoin a ‘Ponzi Scheme’, Sparking Debate in Crypto World
UK Considers Targeted Aid for Vulnerable Households as Energy Costs Rise
Stellantis Urges Immediate Review of UK Electric Vehicle Sales Targets
Home Office Reverses Course to Allow Some Dual Nationals to Enter UK Using EU Passports
Reform UK Proposes Replacing Top Civil Servants With Officials Aligned to Government Agenda
Netflix Adds Critically Acclaimed ‘Best Film of 2025’ With Perfect Rotten Tomatoes Score
‘The Sums Don’t Add Up’: UK Farmers Hit by Soaring Costs as Iran War Disrupts Global Supplies
Confidential UK Biobank Health Records Found Online After Researchers Accidentally Expose Data
Trump Urges Britain and Allies to Deploy Warships to Safeguard Strait of Hormuz
Trump Urges Britain and Allies to Deploy Warships to Safeguard Strait of Hormuz
Middle East War Highlights Strategic Importance of Strong UK–Ireland Cooperation
Weak Growth Signals UK Economy Was Faltering Even Before Middle East Energy Shock
Marks & Spencer Tops UK Fashion Retail Rankings as Most Considered Brand
United States Launches Trade Investigation Into Allies Over Forced Labour Practices
United States Launches Trade Investigation Into Allies Over Forced Labour Practices
Russia Accuses Britain Over Storm Shadow Strike as London Reaffirms Ukraine’s Right to Self-Defence
Russia Accuses Britain Over Storm Shadow Strike as London Reaffirms Ukraine’s Right to Self-Defence
Royal Navy to Acquire Twenty Uncrewed Surface Vessels for Autonomous Warfare Testing
Russia Summons British and French Envoys After Ukrainian Storm Shadow Strike on Strategic Facility
Starmer Confirms Britain Will Maintain Sanctions on Russia Despite U.S. Policy Shift
UK Moves to Refine AI Definition in Investment Security Reform
UK Economy Stalls in January as Growth Unexpectedly Falls to Zero
Asian Energy Security Tested as Strait of Hormuz Disruption Threatens Oil Supplies
×