Europe’s leaders warn of tough 2012

3rd January 2012

However, his New Year message was not entirely downbeat. He also said: ""This will be the year Britain sees the world and the world sees Britain. It must be the year we go for it – the year the coalition government I lead does everything it takes to get our country up to strength."

As the BBC reports the German Chancellor and arguably Europe's most powerful politician, Angela Merkel, said: "The road to overcome the debt remains long and not without setbacks, but at the end of this path Europe will re-emerge stronger from the crisis than it was when it entered it."

Italy's President Georgio Napolitano's words also brought cold comfort for Italians. He said: "No-one, no social group, can today avoid the commitment to contribute to the clean-up of public finances in order to prevent the financial collapse of Italy," 

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