David Cameron today issued a call for action from eurozone states and institutions to support weaker economies like Greece or see thesingle European currency break up.
The Prime Minister said he would do "whatever it takes to keep Britain safe from the storm", but made clear that the UK could not be immune from the consequences of a collapse of the euro.
"The eurozone is at a crossroads," said Mr Cameron. "It either has to make-up or it is looking at a potential break-up.
"Either Europe has a committed, stable, successful eurozone with an effective firewall, well capitalised and regulated banks, a system of fiscal burden sharing, and supportive monetary policy across the eurozone, or we are in uncharted territory which carries huge risks for everybody.
"As I have consistently said, it is in Britain's interest for the eurozone to sort out its problems.
"But be in no doubt: whichever path is chosen, I am prepared to do whatever is necessary to protect this country and secure our economy and financial system."
"Despite headwinds from the eurozone, we are on track," said Mr Cameron. "It is a long-term project. It is painstaking work. But the tough decisions we have taken on deficit reduction really are beginning to yield real results. And there can be no deviation from this."
"As we get through crisis, I believe we can look ahead with confidence," said the Prime Minister.
"I cannot predict how this crisis will end for others. And I cannot pretend that Britain will be immune from the consequences, either. But this I can promise: that we know what needs to be done and we are doing it.
"Get the deficit under control, get the foundations for recovery in place, defend the long-term interests of our country and hold our course.
"As Prime Minister, I will do whatever it takes to keep Britain safe from the storm."