Cameron: Global economy close to 'staring down the barrel'

Prime Minister David Cameron warned last night the global economy is under threat by the failure of eurozone leaders to agree a lasting deal to stabilise the single currency.

As markets tumbled around the world, the Prime Minister issued his gravest warning about the global economic outlook, the Guardian reports. "We are not quite staring down the barrel but the pattern is clear," the Prime Minister told the Canadian parliament in Ottawa. "The recovery out of the recession for the advanced economies will be difficult. Growth in Europe has stalled, growth in America has stalled. The effect of the Japanese earthquake, high oil and fuel prices is creating a drag on growth. But fundamentally we are still facing the aftermath of the world financial bust and eco...